JPMorgan raised the firm’s price target on Lumentum (LITE) to $185 from $145 and keeps an Overweight rating on the shares. The firm upped the company’s estimates to reflect increased confidence in the datacenter investment outlook. Hyperscaler spending is on track for another robust year in both 2025 and 2026, which supports double-digit growth in optical components both inside and outside the data center, the analyst tells investors in a research note. JPMorgan anticipates this will benefit demand for Lumentum’s datacom lasers and telecom solutions.
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