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Fly News Breaks for March 21, 2018
OCLR, LITE
Mar 21, 2018 | 11:08 EDT
Drexel Hamilton analyst David Williams earlier today assumed coverage of Lumentum Holdings (LITE) with a Buy rating and $85 price target. The stock in late morning trading is up 2.4% to $71.08. The analyst highlights the company's "recent success"in 3D sensing modules with Apple (AAPL). He expects a "solid ramp into multiple Android customers" in the coming quarters. Williams is also "highly encouraged" by Lumentum's recent acquisition announcement of Oclaro (OCLR). He sees benefits "well beyond" the expected cost synergies.
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