JPMorgan raised the firm’s price target on Lumentum (LITE) to $1,130 from $940 and keeps an Overweight rating on the shares. The firm increased its revenue and earnings estimates following Lumentum’s fiscal Q3 report. The “strong” fiscal Q4 outlook “underscores the momentum” Lumentum is building, the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
LITX: an alternative to margin or options on LITEPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LITE:
- 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
- Notable companies reporting after market close
- Lumentum options imply 9.9% move in share price post-earnings