Lumentum price target raised to $550 from $470 at Needham

Needham analyst Ryan Koontz raised the firm’s price target on Lumentum (LITE) to $550 from $470 and keeps a Buy rating on the shares after its better than expected Q2 earnings and guidance. Accelerated InP fab expansions and customer Long-Term Agreements provide strong contracted visibility and should support surging demand for its Datacom transceivers with the shift to vertically integrated 1.6T in the second half of 2026, the analyst tells investors in a research note.

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