Ouster initiated with an Outperform at Northland

Northland initiated coverage of Ouster (OUST) with an Outperform rating and $14 price target citing the company’s position as a “leading” supplier of optical based digital LIDAR systems. While the market has taken “much longer than expected to develop,” the company has reduced costs and cash burn by about 50% since its 2023 merger, the analyst tells investors. With that first mover status in consolidation and execution, along with the industry’s strongest balance sheet, the firm sees Ouster with “an advantage in a market likely to see further growth and consolidation.”