Lumentum initiated with a Hold at TD Cowen

TD Cowen analyst Sean O’Loughlin initiated coverage of Lumentum (LITE) with a Hold rating and $675 price target While TD Cowen sees Lumentum as a “key beneficiary” of accelerating AI infrastructure demand, the firm is cautious on the company’s reliance on component sales, which it see as “leaving it relatively more exposed to potential InP overbuild.”

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