BofA analyst Vivek Arya raised the firm’s price target on Lumentum (LITE) to $210 from $135 and keeps a Neutral rating on the shares. The company’s portfolio of core laser components, transceivers, and optical circuit switches is “optimally suited to address the massive surge in optical connectivity demand,” but the firm’s raised target “prices in much potential for future upside,” the analyst tells investors.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LITE:
- Lumentum price target raised to $250 from $150 at Northland
- Lumentum price target raised to $147 from $83 at B. Riley
- Lumentum price target raised to $220 from $132 at Stifel
- Lumentum price target raised to $235 from $185 at JPMorgan
- Lumentum Holdings: Strong Financial Performance and Strategic Positioning Justify Buy Rating