Lumentum placed on ‘Negative Catalyst Watch’ at JPMorgan

JPMorgan analyst Samik Chatterjee placed Lumentum (LITE) on “Negative Catalyst Watch” saying the stock’s valuation sets up a tough bar into earnings. The firm sees a positive set up for the earnings estimates for Lumentum but says visibility will remain limited pending more margin upsides from a stronger ramp in EML volumes.