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LITE

Lumentum

$55.30

-0.75 (-1.34%)

, FNSR

Finisar

$22.06

-0.1 (-0.45%)

09:02
10/06/17
10/06
09:02
10/06/17
09:02

Jefferies boosts Lumentum target to $75 on 3D sensing opportunity

After speaking to contacts and building an industry model, Jefferies analyst James Kisner believes investors may be underestimating the longer-term impact to earnings from 3D sensing, particularly for Lumentum (LITE), given its market leadership. The analyst's base case has the revenue opportunity for lasers and filters for 3D sensing ramping from $31M in 2017 to $1B in 2018 and $3.5B in 2023. Lumentum is the biggest beneficiary of 3D sensing as Finisar (FNSR) is capacity limited and Viavi's (VIAV) filters have relatively low average selling prices, Kisner tells investors in a research note. He raised his estimates for Lumentum while modestly lowering numbers for Finisar and Viavi. The analyst also boosted his price target for Lumentum to $75 from $72. Kisner has Buy ratings on all three names.

LITE

Lumentum

$55.30

-0.75 (-1.34%)

FNSR

Finisar

$22.06

-0.1 (-0.45%)

VIAV

Viavi

$9.51

-0.06 (-0.63%)

  • 06

    Oct

  • 18

    Oct

  • 19

    Oct

LITE Lumentum
$55.30

-0.75 (-1.34%)

09/27/17
09/27/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Darden (DRI) was upgraded to Buy from Hold at Maxim and to Outperform from Neutral at Baird. 2. Michael Kors (KORS) upgraded to Buy from Hold at Canaccord with analyst Camilo Lyon saying he believes the strategic steps management has recently begun implementing are showing signs of traction. 3. RBS (RBS) upgraded to Buy from Hold at Jefferies. 4. Lumentum (LITE) upgraded to Buy from Neutral at MKM Partners with analyst Michael Genovese citing valuation and his checks which lead him to believe that orders for the 3D Sensing product "rose significantly"since it reported its results on August 9. 5. Telefonica (TEF) upgraded to Buy from Hold at Berenberg. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/27/17
MKMP
09/27/17
UPGRADE
MKMP
Buy
Lumentum upgraded on valuation, checks at MKM Partners
As noted earlier, MKM Partners upgraded Lumentum to Buy from Neutral. Analyst Michael Genovese upgraded the stock based on valuation and his checks which lead him to believe that orders for the 3D Sensing product "rose significantly"since it reported its results on August 9. The analyst says that the company is the only optical components company that looks poised to deliver beat and raise results "in the near-term.: Target $66.
09/27/17
MKMP
09/27/17
UPGRADE
MKMP
Buy
Lumentum upgraded to Buy from Neutral at MKM Partners
10/04/17
RSBL
10/04/17
NO CHANGE
RSBL
Lumentum mentioned positively at Rosenblatt
FNSR Finisar
$22.06

-0.1 (-0.45%)

09/17/17
PIPR
09/17/17
NO CHANGE
Target $26
PIPR
Overweight
Finisar has catalysts to help accelerate growth, says Piper Jaffray
Piper Jaffray analyst Troy Jensen recommends investors revisit Finisar shares as he believes the optical group will likely experience accelerating growth in 2018 and believes Finisar has some company specific catalysts to help accelerate growth. The analyst believes China demand will improve by year-end and into 2018 with inventor levels being reduced and new China tenders helping grow demand. Jensen also believes Finisar will see VCSEL sales start an impressive ramp in October, coupled with initial revenues for the CFP2-ACO qualification at Cisco in the January quarter followed by ROADM line cards in the April quarter. This growth recovery coupled with lowered assumptions and valuation creates an "attractive entry point," he contends. The analyst reiterates an Overweight rating and $26 price target on the shares.
09/08/17
MKMP
09/08/17
NO CHANGE
MKMP
Finisar catlysts just 'delayed,' not 'canceled,' says MKM Partners
After Finisar's Q2 guidance came in well below expectations, MKM Partners analyst Michael Genovese says that "all of the meaningful catalysts for the stock are delayed, but none are canceled." He says that "the most important catalyst," 3D Sensing, "is only delayed by one quarter," while two other positive catalysts - "full Verizon qualification and demand recovery in China" - "are delayed by 1-2 quarters." He trimmed his price target on the name to $31 from $33 but keeps a Buy rating on the stock.
09/08/17
CHLM
09/08/17
NO CHANGE
Target $28
CHLM
Buy
Finisar price target lowered to $28 from $38 at Craig-Hallum
Craig-Hallum analyst Richard Shannon Finisar's Q2 guidance was "quite poor," though he sees temporary factors far offsetting cyclical factors in October and thinks these should reverse in the near-future. The company blamed a manufacturing process tweak for pushing out 3D sensor sales by a quarter, but Shannon does not think this implies lost share with its lead customer, he tells investors. The analyst lowered his price target on Finisar shares to $28 from $38 but keeps his Buy rating on the stock.
09/08/17
NEED
09/08/17
NO CHANGE
NEED
Finisar price target lowered to $34 from $44 at Needham
Needham analyst Alex Henderson lowered his price target on Finisar after the company cut its Q3 guidance. However, he keeps a Strong Buy rating on the stock.
VIAV Viavi
$9.51

-0.06 (-0.63%)

05/05/17
JEFF
05/05/17
UPGRADE
Target $14
JEFF
Buy
Viavi upgraded to Buy from Hold at Jefferies
Jefferies analyst James Kisner upgraded Viavi Solutions (VIAV) to Buy saying the company's 3D sensing opportunity will "significantly increase" its earnings growth rate. The analyst expects Apple (AAPL) to launch an iPhone with 3D sensing in 2017, with multiple smartphone markers following suit in 2018. Viavi will remain the industry's sole supplier for the filter, the analyst contends. He upped his price target for the shares to $14 from $9.50.
05/09/17
DADA
05/09/17
DOWNGRADE
Target $40
DADA
Neutral
Gigamon downgraded to Neutral from Buy at DA Davidson
DA Davidson analyst Mark Kelleher downgraded Gigamon to Neutral citing valuation following the recent rally. The analyst believes a sale of the company will be high on the strategic alternatives list for new activist investor Elliott Management. He lists Viavi (VIAV) and NetScout (NTCT) as possible acquirers. Should a deal happen, Kelleher expects a "lack of take-out premium." He raised his price target for Gigamon to $40.
05/22/17
RSBL
05/22/17
NO CHANGE
RSBL
China Telecom has begun work on Metro upgrade plan, says Rosenblatt
Rosenblatt Securities said China Telecom (CHA) has begun work on its Metro upgrade plan and the firm believes it will release tenders for both provincial and Metro in the timeframe of September to October. Companies in the optical equipment space that could benefit from China's upgrade cycle include Oclaro (OCRL), Finisar (FNSR), Lumentum (LITE), NeoPhotonics (NPTN), Acacia Communications (ACIA) and Viavi (VIAV).
07/21/17
RILY
07/21/17
UPGRADE
Target $14
RILY
Buy
Viavi upgraded to Buy from Neutral at B. Riley
B. Riley analyst Dave Kang upgraded Viavi to Buy and raised his price target for the shares to $14 from $8.75. The analyst believes telecom demand is starting to improve and thinks the company's 3D sensing will drive top-line growth and margin expansion.

TODAY'S FREE FLY STORIES

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$51.10

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HSC

Harsco

$16.75

0.45 (2.76%)

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AKBA

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, CRSP

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$41.16

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$14.31

0.69 (5.07%)

CRSP

Crispr Therapeutics

$41.16

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$37.71

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$3.37

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HCA

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ABEO

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$11.70

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$24.10

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Aimmune

$32.21

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DEPO

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$7.46

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KTWO

K2M Group

$19.09

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INOV

Inovalon

$11.68

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IMMU

Immunomedics

$16.38

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$6.83

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    Mar

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  • 01

    May

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  • 22

    Feb

HSC

Harsco

$16.75

0.45 (2.76%)

07:40
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02/22
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07:40
Earnings
Harsco reports Q4 EPS ex-items 20c, consensus 14c »

Reports Q4 revenue $455M,…

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  • 22

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WPC

W.P. Carey

$59.53

-0.73 (-1.21%)

07:40
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07:40
Hot Stocks
W.P. Carey enters into 18-year triple net lease with Astellas Institute »

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  • 23

    Feb

07:40
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General news
Fed's Quarles anticipates further gradual tightening »

Fed's Quarles…

ROCK

Gibraltar Industries

$31.75

0.35 (1.11%)

07:39
02/22/18
02/22
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07:39
Earnings
Gibraltar Industries sees FY18 adjusted EPS $1.96-$2.08, consensus $1.81 »

Gibraltar is providing…

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CVX

Chevron

$109.06

-1.92 (-1.73%)

07:39
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Chevron analyst commentary  »

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BRC

Brady

$38.05

0.1 (0.26%)

07:38
02/22/18
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Earnings
Brady reports Q2 EPS 8c, may not be compared to consensus 44c »

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  • 22

    Feb

ROCK

Gibraltar Industries

$31.75

0.35 (1.11%)

07:38
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Earnings
Gibraltar Industries sees Q1 adjusted EPS 23c-28c, one est. 30c »

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HCN

Welltower

$53.99

-0.81 (-1.48%)

07:37
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Earnings
Welltower sees 2018 normalized FFO $3.95-$4.05, consensus $4.20 »

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  • 22

    Feb

ARWR

Arrowhead

$5.54

-0.11 (-1.95%)

07:36
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AABA

Altaba

$75.11

0.52 (0.70%)

07:36
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Altaba analyst commentary  »

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  • 27

    Feb

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HCN

Welltower

$53.99

-0.81 (-1.48%)

07:36
02/22/18
02/22
07:36
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07:36
Earnings
Welltower reports Q4 normalized FFO $1.02, consensus $1.04 »

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  • 22

    Feb

ROCK

Gibraltar Industries

$31.75

0.35 (1.11%)

07:35
02/22/18
02/22
07:35
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07:35
Earnings
Gibraltar Industries reports Q4 adjusted EPS 41c, consensus 34c »

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RGEN

Repligen

$32.40

0.64 (2.02%)

07:35
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Earnings
Repligen sees FY18 adjusted EPS 68c-72c, consensus 72c »

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  • 22

    Feb

SRCL

Stericycle

$74.91

-0.31 (-0.41%)

07:35
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LAWS

Lawson Products

$23.80

0.3 (1.28%)

07:35
02/22/18
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Earnings
Lawson reports Q4 EPS $2.21 including items, may not compare to two est. 16c »

Reports Q4 revenue…

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  • 22

    Feb

C

Citi

$77.00

0.54 (0.71%)

, WFC

Wells Fargo

$59.73

-0.22 (-0.37%)

07:35
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Options
Unusual call flow in option market yesterday »

Notable call activity was…

C

Citi

$77.00

0.54 (0.71%)

WFC

Wells Fargo

$59.73

-0.22 (-0.37%)

GM

General Motors

$40.56

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P

Pandora

$4.87

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ILG

ILG

$32.31

0.12 (0.37%)

BHGE

Baker Hughes

$26.76

0.32 (1.21%)

SLCA

U.S. Silica

$25.15

-5.6 (-18.21%)

RF

Regions Financial

$19.62

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SPB

Spectrum Brands

$100.87

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MNST

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$65.02

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