Morgan Stanley raised the firm’s price target on Lumentum (LITE) to $900 from $710 and keeps an Equal Weight rating on the shares. Fiscal Q3 and the Q4 outlook were “largely in and around bogeys,” which “may cause some near term digestion” given the run up in the name, the analyst tells investors.
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Read More on LITE:
- Needham’s O’Loughlin Maintains Hold on Lumentum but Lifts Price Target to $995 Amid Strong Demand Outpacing Capacity
- Lumentum reports Q3 adjusted EPS $2.37, consensus $2.27
- Lumentum sees Q4 adjusted EPS $2.85-$3.05, consensus $2.69
- Notable companies reporting after market close
- Lumentum options imply 9.9% move in share price post-earnings