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Lumentum price target raised to $105 from $94 at Rosenblatt

Rosenblatt analyst Mike Genovese raised the firm’s price target on Lumentum (LITE) to $105 from $94 and keeps a Buy rating on the shares following the increased outlook. The firm sees a strong gross margin improvement story as 800G transceiver margins improve from vertical integration and new products drive richer overall mix.

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