Northland analyst Tim Savageaux raised the firm’s price target on Lumentum (LITE) to $80 from $70 and keeps an Outperform rating on the shares post the company’s better than expected fiscal Q3 report and outlook. While the shares have recovered sharply, the firm views the revenue growth and margin execution evident in Lumentum’s report and guidance as “a major incremental positive,” the analyst tells investors.
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