As previously reported, BofA analyst Vivek Arya upgraded Lumentum (LITE) to Neutral from Underperform with a price target of $135, up from $78. Lumentum is refocusing back to its best-of-breed optical component roots while prudently managing its lower margin optical transceiver mix under its relatively new CEO, the analyst tells investors. Q4 results indicate the possibility of Lumentum hitting both its medium-term and longer-term revenue run-rate two to three quarters in advance of the firm’s prior forecast, the analyst added. Following the report, the firm raised its pro-forma FY26 and FY27 EPS estimates “materially” to $4.86 and $6.92, respectively.
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