Lumentum price target raised to $250 from $150 at Northland

Northland raised the firm’s price target on Lumentum (LITE) to $250 from $150 and keeps an Outperform rating on the shares. The company’s “strong” fiscal Q1 results and “extraordinary” Q2 guidance, with a reference to being caught flatfooted by the breadth of demand, underscores rapidly accelerating demand across the AI Optical ecosystem, the analyst tells investors.

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