JPMorgan raised the firm’s price target on Lumentum (LITE) to $235 from $185 and keeps an Overweight rating on the shares. The firm cites higher earnings estimates post earnings for the target increase. Lumentum’s acceleration across datacom transceivers, telecom and data center interconnect components, and datacom chips is positioning the company for “much more significant upside” in fiscal Q2 than expected, the analyst tells investors in a research note.
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- Lumentum reports Q1 EPS $1.10, consensus $1.03
- Lumentum sees Q2 EPS $1.30-$1.50, consensus $1.16