Lumentum price target raised to $75 from $62 at B. Riley

B. Riley analyst Dave Kang raised the firm’s price target on Lumentum (LITE) to $75 from $62 and keeps a Neutral rating on the shares following the fiscal Q2 report. After a lengthy downturn, telecom is starting to recover, the analyst tells investors in a research note. The firm keeps a Neutral rating based on valuation.