Raymond James raised the firm’s price target on Lumentum (LITE) to $96 from $94 and keeps an Outperform rating on the shares following the Q2 report that was positively pre-announced along with the CEO transition. The upside to to December primarily came from Industrial Tech, which it says is the “wrong” source, but tells investors that guidance above consensus was good news. The firm still thinks Lumentum hits the $500M sales milestone in September 2025, a quarter early.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LITE: