Innoviz Technologies .(US:INVZ) Benzinga·2025-09-29 17:45Core Viewpoint - Innoviz Technologies' stock surged 15% as investors anticipate new design wins and growth in autonomous driving technology [1] Group 1: Stock Performance and Analyst Ratings - Innoviz shares increased significantly despite trading at a discount compared to lidar peers, driven by optimism regarding potential major automaker deals [1][4] - Goldman Sachs analyst Mark Delaney upgraded Innoviz's stock rating from Neutral to Buy and raised the price target from $1.50 to $2.50, indicating a 47% upside potential [2] Group 2: Design Wins and Market Position - Delaney emphasized near-term design win opportunities and the attractive relative valuation of Innoviz, suggesting that as autonomous driving technology gains importance, new program awards should accelerate [2] - Innoviz's collaboration with a top-five global passenger auto manufacturer enhances its chances of securing a series production award, alongside previous wins from Volkswagen and Mobileye [3] Group 3: Financial Projections - Delaney projected EPS, including stock-based compensation, at $(0.32), $(0.30), and $(0.25) for 2025, 2026, and 2027, respectively, with a 2028 EPS forecast of $0.20 [6] - The analyst estimated 2028 revenue at $150 million, based on lidar shipments for over 1,000 autonomous vehicles and 100,000–200,000 consumer lidar units, with potential upside revenue reaching approximately $250 million in a stronger AV adoption scenario [6] Group 4: Long-term Potential - Innoviz's potential extends beyond the automotive sector, with opportunities in robotics, security, and traffic management, which could broaden its total addressable market [7] - A significant design win could act as a key catalyst for stock performance, as lidar stocks have historically reacted positively to new program awards [7]