Lumentum Target Raised
JPMorgan raises Lumentum's price target to $1,280 from $1,165
LITE JPMorgan raised the firm's price target on Lumentum to $1,280 from $1,165 and keeps an Overweight rating on the shares post the fiscal Q4 report.
The company "sidestepped near-term concerns" around the increasing mix of transceiver, delivering strong revenue and margin results, and issued upbeat guidance for Q1, the analyst tells investors in a research note.
JPMorgan continues to see Lumentum well positioned to drive upside to estimates, given demand momentum across its existing portfolio and the "incremental opportunities on the horizon."