- The stock price of AEye Inc (NASDAQ: LIDR) increased by over 20% pre-market today. This is why it happened.
The stock price of AEye Inc (NASDAQ: LIDR) increased by over 20% pre-market today. Investors are responding to a bullish research report.
Roth Capital analyst Suji Desilva had initiated coverage of AEye with a “Buy” rating. And Desilva assigned the company a $15 price target. The $15 price target imputes more than a 257% upside to the previous closing price of the stock.
Desilva is expecting AEye’s advanced iDAR platform to gain traction in higher-order L3/L4/L5 ADAS/AV auto models — which emphasizes more sophisticated highway driving safety. And he believes a major advantage of AEye’s business model of a high margin licensing/royalty-based revenue model has potential for gross margins of over 80% at scale.
Plus Desilva believes that AEye has secured a Tier-1 automotive partnership with Continental affirming the strength of the company’s lidar technology platform.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.