Lumentum price target raised to $565 from $350 at JPMorgan

JPMorgan raised the firm’s price target on Lumentum (LITE) to $565 from $350 and keeps an Overweight rating on the shares. The company reported “strong” fiscal Q2 results, beating “lofty expectations,” the analyst tells investors in a research note. The firm says Lumentum issued “even more robust” guidance for Q3 while also setting the stage for continued momentum in subsequent quarters.

Claim 55% Off TipRanks