Luminar Technologies (LAZR) Upgraded to Buy by Zacks Rank: What Does it Mean for the Stock?

Luminar Technologies (LAZR) has been upgraded to a Zacks Rank #2 (Buy) due to an upward trend in earnings estimates. This indicates a positive change in the company's earnings outlook, which could have a favorable impact on its stock price. The Zacks rating system harnesses the power of earnings estimate revisions, which have been shown to be strongly correlated with near-term stock movements. As a result, Luminar Technologies appears an attractive pick for investors.