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Fly News Breaks for March 20, 2018
OCLR, LITE
Mar 20, 2018 | 06:11 EDT
Loop Capital analyst James Kisner raised his price target on Lumentum (LITE) to $86 to reflect the expected earnings accretion from the pending acquisition of Oclaro (OCLR). Kisner adds that his modeled forecasts for the combined company may also prove to be conservative based on the management's confidence that "3D sensing light sources would likely end up on the back side of phones in 2019". The analyst keeps his Buy rating on Lumentum.
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