Lumentum price target raised to $950 from $565 at JPMorgan

JPMorgan raised the firm’s price target on Lumentum (LITE) to $950 from $565 and keeps an Overweight rating on the shares. The firm upped estimates following the company’s investor briefing. Lumentum is seeing a stronger than expected level of forward visibility across its various growth drivers, the analyst tells investors in a research note. The firm says the company outlined new customer agreements and capacity expansions that are driving confidence behind its raised target financial model.

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