JPMorgan analyst Samik Chatterjee believes shares of Lumentum Holdings offer an attractive entry point following yesterday's "not as bad as feared" guidance reduction. The analyst points out that Lumentum is the most exposed to Huawei as a customer in his Networking Equipment/IT Hardware coverage. Were Huawei to be excluded as a customer on a permanent basis, Chatterjee sees a 90c per share headwind to his fiscal 2021 earnings estimates for Lumentum. Off these estimates, the analyst pegs a $60 per share fair value for the company. He keeps an Overweight rating on Lumentum with a $71 price target.