By Davit Kirakosyan
Investing.com -- Here is your daily Pro Recap of the biggest analyst cuts you may have missed since yesterday.
Luminar Technologies downgraded at Goldman, shares plunge
Goldman Sachs downgraded Luminar Technologies (NASDAQ:LAZR) to Sell from Neutral with a price target of $5.00, reflecting margin risk and a premium valuation.
The firm continues to see Luminar as one of a handful of leaders in the very competitive lidar industry, as evidenced by design wins with several companies in the ADAS/AV ecosystem. However, they see a downside to the company's margin outlook with the company targeting revenue per vehicle of approximately $1,000, which implies ASPs that are roughly 50-100% higher than key competitors for MEMs/solid state lidar.
Shares fell more than 13% in recent trading after tanking in the premarket as well.
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Invitation Homes downgraded at Mizuho
Mizuho Securities downgraded Invitation Homes (NYSE:INVH) to Neutral from Buy and cut its price target to $32.00 from $33.00.
The company reported its Q4 results last month, with both EPS and revenues coming in better than the consensus estimates.
Shares were off 2.5% lately.
4 more cuts
Piper Sandler downgraded Godaddy (NYSE:GDDY) to Neutral from Overweight.
Bernstein downgraded Wipro (NYSE:WIT) to Underperform from Market Perform and cut its price target to $3.90 from $5.10.
Goldman Sachs resumed coverage on Macerich Company (NYSE:MAC) with a Sell rating.
Bernstein initiated coverage on Ionis Pharmaceuticals (NASDAQ:IONS) with an Underperform rating and a price target of $31.00.
