Stifel raised the firm’s price target on Lumentum (LITE) to $100 from $85 and keeps a Buy rating on the shares. Lumentum raised its revenue, adjusted operating margin, and adjusted EPS estimate ranges, with management attributing the improved outlook to broad-based strength within its underlying businesses, the analyst tells investors in a research note. The updated guidance is generally indicative of both faster-than-expected product ramps and an acceleration in accelerated compute infrastructure build-outs, the firm says.
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