Ouster price target raised to $38 from $30 at Northland

Northland analyst Tim Savageaux raised the firm’s price target on Ouster (OUST) to $38 from $30 and keeps an Outperform rating on the shares following better than expected Q3 revenue and an outlook that represents a step-up in growth. With less than 10% of Ouster’s current base of over 1,000 customers in commercial production, the firm sees “significant growth opportunities” supporting the company’s 30%-50% annual growth target, the analyst tells investors.