$Lumentum(LITE)$ Lumentum jump

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a9032
09-10 22:57

$Lumentum(LITE)$ Lumentum jumped 11% in a day after two banks started coverage at Buy. Deutsche Bank's Gianmarco Conti initiated at Buy with a $1,200 target on August 31, making the case that the company wins under every architecture, whether pluggable transceivers persist or co-packaged optics take over. Evercore ISI's Amit Daryanani opened at Outperform with a $1,100 target the same week.

The real driver behind the bullish notes is the order rate. Hurlston said the company's largest customer has increased their orders very significantly since the last earnings call, a huge uptick that gave management confidence to raise its 2028 outlook.

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