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Baird Downgrades Velodyne Lidar To Neutral; Reduced Price Target Implies Over 15% Upside

Baird analyst Tristan Gerra has downgraded Velodyne Lidar Inc (NASDAQ:VLDR) to Neutral from Outperform with a price target of $10, down from $18, implying…
byAnusuya Lahiri
July 20, 2021
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  • Baird analyst Tristan Gerra has downgraded Velodyne Lidar Inc (NASDAQ:VLDR) to Neutral from Outperform with a price target of $10, down from $18, implying a 15.34% upside.
  • The CEO departure casts further uncertainly in the company’s outlook after design win losses earlier in the year and a high-profile board/founder fight, Gerra noted.
  • Additionally, volume opportunities for lidars in the automotive space have transitioned from robotaxis to highway safety features, which requires different lidar technologies and where Velodyne is not currently well-positioned.
  • Price action: VLDR shares traded higher by 0.23% at $8.69 in the premarket session on the last check Tuesday.
 
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