Lumentum price target raised to $480 from $400 at Stifel

Stifel raised the firm’s price target on Lumentum (LITE) to $480 from $400 and keeps a Buy rating on the shares after the company reported what the firm describes as “another set of significantly higher results and forward outlook.” Lumentum’s results, outlook and commentary are consistent with the firm’s thesis that the company remains a primary beneficiary of increasing AI driven network traffic escalating complexity and scale, the analyst tells investors.

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