Shares of Ouster (NYSE: OUST) , a maker of digital lidar sensor systems, were trading sharply higher on Wednesday afternoon after a Wall Street analyst initiated coverage with a bullish note.
As of 2 p.m. EDT, Ouster's shares were up about 35.6% from Tuesday's closing price.
In a new note released on Wednesday morning, Citibank analyst Itay Michaeli initiated coverage of Ouster with a buy rating and a price target of $17.
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