Brokerage sees up to 620 percent upside in Israeli technology company

One company that analysts have extremely high confidence in is the car technology company Innoviz Technologies, writes CNBC.

There aren’t that many analysts who cover the company, but the majority are, in return, very enthusiastic about the stock.

Because while Goldman Sachs and Cantor Fitzgerald “only” see an upside of 66 and 233 percent respectively, three other brokerage houses see an upside of well over 400 percent.

BMW collaboration

The Israeli company, which is listed on Nasdaq, produces sensors and software for the automotive industry that enable driverless cars. Among other things, the company makes Lidar sensors, which recognize light and range, which are used by autonomous vehicles to navigate their surroundings without the driver being involved.

The company has several significant partnerships in the pipeline, including with BMW, which uses Innoviz’s sensors in its advanced driver support system for the 7 Series, writes CNBC.

They have also entered into a partnership with Volkswagen and another unnamed large Asian car manufacturer, which means potential revenues of almost 7 billion dollars over the next ten years.

Upside of 622 percent

The share price, on the other hand, has not fared as well since the listing on Nasdaq, and in the past year the share has fallen 62 per cent on the stock exchange.

But that only makes the upside even greater for the optimists, and the biggest optimist among the brokerage houses is JP Morgan, who has set a price target of 13 dollars per share. stock. This corresponds to an upside of 622 percent for the share if it is currently trading at $1.80.

“We expect that the combination of many wins, high volume wins, balance between Lidar cost and performance, as well as the ability to support highway autonomy at high speeds will position Innoviz to grow revenues well through the decade, while cost discipline will drive profitability, » writes the investment bank.

Market share of 15 percent

At Berenberg, they also see great potential in the company. The German investment bank believes the share can reach 12 dollars per share. share, which corresponds to an upside of over 566 percent.

Berenberg believes that Innoviz is the company that is the best positioned Lidar player, with a market share of around 15 percent globally, writes CNBC.

Analysts at WestPark Capital expect the stock to rise to $10 in the next 12 months. In that case, there will be an increase of over 455 per cent from the current level.