Ouster price target raised to $14 from $11 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Ouster (OUST) to $14 from $11 and keeps an Overweight rating on the shares. Ouster benefits from a differentiated product line with several total addressable market applications and a proven and diversified customer base, and Cantor is encouraged by the company’s continued gross margin improvements and its outlook towards gross margins of 35%-40% over the next 12 months, plus annual revenue growth of 30%-50%, the analyst tells investors in a research note. The firm says Ouster is among the best-positioned in the LIDAR industry.