Oppenheimer bullish on Ouster, initiates with an Outperform

As previously reported, Oppenheimer initiated coverage of Ouster (OUST) with an Outperform rating and $16 price target The firm sees Ouster as a leading perception technology company with a diverse product portfolio and substantial IP position. While the Lidar space has seen significant rationalization, Oppenheimer believes Ouster is uniquely positioned as a unit play in the growth of the Industrial AI space, particularly in the U.S. and Western Europe, as OEMs consider security concerns in supply chain and product design.