Raymond James analyst Simon Leopold raised the firm’s price target on Lumentum (LITE) to $1,014 from $491 and keeps an Outperform rating on the shares. Lumentum delivered a modest beat-and-raise in Q3 with steady business momentum, improving operational execution, and emerging growth drivers in areas like CPO, OCS, and Scale-Up, supporting expectations for sustained triple-digit growth and margin expansion despite a muted initial market reaction, the analyst tells investors in a research note.
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- Needham’s O’Loughlin Maintains Hold on Lumentum but Lifts Price Target to $995 Amid Strong Demand Outpacing Capacity
- Lumentum reports Q3 adjusted EPS $2.37, consensus $2.27
- Lumentum sees Q4 adjusted EPS $2.85-$3.05, consensus $2.69
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- Lumentum options imply 9.9% move in share price post-earnings