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Lumentum price target raised to $120 from $100 at Northland

Northland raised the firm’s price target on Lumentum (LITE) to $120 from $100 and keeps an Outperform rating on the shares. The price target increase follows “extremely positive” comments from Ciena (CIEN) last week, noting a material increase in business activity since earnings just a few weeks ago, the analyst tells investors in a research note.

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