Ouster gets 'outperform' rating as Oppenheimer initiates coverage on AI-enhanced lidar sensors

Brokerage Oppenheimer starts coverage on lidar sensor maker Ouster OUST.O with "outperform" rating and $16 PT

New PT represents 50.6% upside to the stock's last close

Brokerage says OUST is positioned for growth in the industrial AI space, particularly in the US and western Europe, due to its diverse product portfolio and substantial position in intellectual property due to co's merger with Velodyne

Sees upside to onshore and localized trade for the company on supply chain constraints and geopolitical tension

"We believe OUST is a beneficiary of that effort as companies look to identify leading-edge sensor and visualization tools to support Physical AI applications"- Oppenheimer

4 out of 5 brokerages rate the stock "buy", 1 rate "hold" and their median PT is $11 as per LSEG data

Including session moves, OUST stock down 16.4% YTD