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Fly News Breaks for February 5, 2020
LITE
Feb 5, 2020 | 05:14 EDT
Piper Sandler analyst Troy Jensen raised his price target for Lumentum Holdings to $95 from $72 saying the company reported strong Q2 results, beating expectations across the board thanks to a strengthening telecom transport demand and a stronger than expected 3D sensing segment. With a strong outlook for 3D sensing in 2020, sustained strength in telco and "hopeful" rebound in industrial lasers, the analyst continues to view Lumentum as one of the better positioned optical component suppliers. He reiterates an Overweight rating on the shares.
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