Lumentum price target raised to $110 from $95 at Craig-Hallum

Craig-Hallum analyst Richard Shannon raised the firm’s price target on Lumentum (LITE) to $110 from $95 and keeps a Buy rating on the shares. The firm notes the company made good progress along both its Telecom and Datacom businesses, and still sees them in the rather early innings. Craig-Hallum thinks Lumentum’s sole source position has caused it to last longer, which makes the correction much stronger over time.