Jefferies analyst Blayne Curtis raised the firm’s price target on Lumentum (LITE) to $1,200 from $900 and keeps a Buy rating on the shares following what the analyst describes as “another rock-solid print.” The March quarter report and June guidance make clear that margins are “finally beginning to inflect,” adds the analyst, who sees room for estimates to push higher given a combination of better sales and improved profitability.
Claim 55% Off TipRanks
New trading tool for LITE bullsPublished 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