Ouster upgraded to Overweight at Cantor Fitzgerald following underperformance

As previously reported, Cantor Fitzgerald upgraded Ouster (OUST) to Overweight from Neutral with a price target of $10, down from $12. Ouster recorded “record” Q3 GAAP and non-GAAP gross margins, while on its Q3 earnings call management disclosed that that the company had received the largest purchase order in company history, notes the analyst, who also cites the stock’s recent underperformance for the upgrade.