Piper Jaffray analyst Troy Jensen raised his price target for Lumentum to $72 from $68 saying the company reported a "strong" Q4 with results exceeding street expectations across the board. There were many positives in the quarter, including continued shipments to Huawei, record ROADM revenues thanks to growth with other customers, and further synergies to be seen in fiscal 2020, Jensen tells investors in a research note. He's optimistic about the second half of 2019 for 3D sensing, which he notes has seen more design wins with Apple and Android, and believes commercial lasers could return to growth in 2020. The analyst reiterates an Overweight rating on Lumentum.