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LITE

Lumentum

$69.87

0.97 (1.41%)

06:40
12/12/19
12/12
06:40
12/12/19
06:40

Lumentum initiated with a Positive at Susquehanna

Susquehanna analyst Christopher Rolland initiated coverage of Lumentum with a Positive rating and $90 price target. The analyst views Lumentum as a best-in-class optical provider with a "strong" record of technological innovation, but also the ability to successfully yield those technologies towards economic success.

LITE Lumentum
$69.87

0.97 (1.41%)

11/11/19
MSCO
11/11/19
DOWNGRADE
Target $68
MSCO
Equal Weight
Lumentum downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Meta Marshall downgraded Lumentum Holdings to Equal Weight from Overweight with a $68 price target.
11/11/19
MSCO
11/11/19
DOWNGRADE
Target $68
MSCO
Equal Weight
Morgan Stanley sees 'low hanging fruit' picked at Lumentum, cuts to Equal Weight
As previously reported, Morgan Stanley analyst Meta Marshall downgraded Lumentum to Equal Weight from Overweight with a price target of $68, up from $65. Operating margins have improved 300-400 basis points year-over-year since the Oclaro transaction closed and 3D sensing inventory correction issues that disrupted the trajectory last year did not repeat this year, noted Marshall, who thinks the "low hanging fruit" has been captured for now given the stock's multiple appreciation. She also notes that the market view that a trade deal will be signed has increased, and while Marshall said she "fully expects" that peak can be achieved when a deal is signed and she does feel like there is pent-up demand out of China, she also thinks enthusiasm could fade back to current levels given orders may not pop back immediately.
11/11/19
11/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst James Faucette saying the stock is up 33% since August as Qualcomm's multiple has expanded relative to other semiconductor companies, which he attributes to the market assigning a high probability of a China-U.S. trade agreement, investors becoming more comfortable in a view that the FTC case won't materially impact the company's business, and expectations for the coming of 5G. 2. Lumentum (LITE) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Meta Marshall saying operating margins have improved 300-400 basis points year-over-year since the Oclaro transaction closed and 3D sensing inventory correction issues that disrupted the trajectory last year did not repeat this year. 3. Cisco (CSCO) downgraded to Neutral from Overweight at Piper Jaffray with analyst James Fish citing a slowing macro environment across Enterprise and Service Provider, cycles hitting a peak earlier this year, a lack of a near-term catalyst, and risk to fiscal 2020 and 2021 estimates for the downgrade. 4. L Brands (LB) downgraded to Hold from Buy at Deutsche Bank with analyst Paul Trussell saying his monthly promo watch indicates promotions remain at elevated levels. 5. Expedia (EXPE) downgraded to Perform from Outperform at Oppenheimer with analyst Jed Kelly citing accelerating paid marketing, ADR pressures and Vrbo losing domestic share, all creating a tougher dynamic to sustain double-digit EBITDA growth than previously thought. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/03/19
RSBL
12/03/19
NO CHANGE
RSBL
Lumentum, Maxim, Macom to benefit from ZTE, Huawei procurement, says Rosenblatt
Rosenblatt analyst Jun Zhang noted that ZTE (ZTCOY) announced at the World 5G Convention in Beijing that they plan to procure 3 million 25G fronthaul optical modules in the first half of 2020. He also expects Huawei to begin ordering 5G related components this week, said Zhang, who views the procurement news as beneficial for Lumentum (LITE), Maxim (MXIM) and Macom (MTSI). HG Tech and Hisense hold the largest market share in China for supplying 25G fronthaul optical modules and both use lasers primarily from Lumentum and drivers primarily from Maxim and Macom, Zhang tells investors. He keeps a Buy rating on Lumentum and has no ratings on the two driver suppliers mentioned.

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MSM

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TSLA

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CEL

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$3.18

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VRCA

Verrica Pharmaceuticals

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