Lumentum up as Bernstein initiates coverage with 'outperform'
LITE•Bernstein initiated coverage of Lumentum with an “outperform” rating and a $1,220 price target, implying about 25% upside to the stock’s last close. Lumentum shares were up 0.24% at $975.83 premarket.
1. Bernstein rating
Bernstein initiated coverage of photonic products maker Lumentum with an “outperform” rating and a $1,220 price target, implying about 25% upside to the stock’s last close. The brokerage sees continued upside to transceiver pricing as data center switches move to higher speeds.
2. Analyst estimates
The average rating of 28 analysts is “buy,” and the median price target is $1,141, data compiled by LSEG showed. Through the last close, Lumentum shares had more than doubled year to date.
