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Lumentum price target raised to $73 from $65 at B. Riley

B. Riley analyst Dave Kang raised the firm’s price target on Lumentum (LITE) to $73 from $65 and keeps a Neutral rating on the shares. The company raised its fiscal Q4 outlook with the cloud segment likely providing most of the upside, the analyst tells investors in a research note. The firm keeps a Neutral on the shares due to valuation.

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