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LITE

Lumentum

$81.49

-1.47 (-1.77%)

08:41
01/10/20
01/10
08:41
01/10/20
08:41

Lumentum downgraded to Outperform on valuation at Raymond James

Raymond James analyst Simon Leopold downgraded Lumentum to Outperform from Strong Buy with a price target of $88, up from $82, to reflect increased 3D sensing. In a research note to investors, Leopold says the downgrade is largely base on valuation after the stock reached his target, and even on higher estimates, Leopold says he cannot support a Strong Buy. He notes that his model could prove conservative, as he has only allocated 50% of the incremental 3D opportunity he thinks could be within Lumentum's grasp in calendar 2020.

LITE Lumentum
$81.49

-1.47 (-1.77%)

01/02/20
NEED
01/02/20
DOWNGRADE
Target $90
NEED
Buy
Lumentum downgraded to Buy from Strong Buy at Needham
Needham analyst Alex Henderson downgraded Lumentum to Buy from Strong Buy with a price target of $90, up from $70, and removed shares as the SBI in Optical. The analyst said shares more than doubled over the last year with the Oclaro acquisition delivering robust synergies well beyond initial expectations, 3D outperforming, and ROADMs driving strong Telecom results. Henderson expects Lumentum to have another good year and said although valuation has moved up, shares still look attractive.
01/02/20
MKMP
01/02/20
NO CHANGE
Target $91
MKMP
Buy
Lumentum price target raised to $91 from $75 at MKM Partners
MKM Partners analyst Michael Genovese raised his price target on Lumentum (LITE) to $91 and kept his Buy rating, saying the stock was a "close second" in naming Viavi Solutions (VIAV) as his top pick for 2020. The analyst is anticipating strength in both the Optical Telecom / Datacom and 3D Sensing businesses for Lumentum while also pointing to improvement in the company's margin profile. Genovese further states that he is lifting his FY21 forecasts based on the expected 3D Sensing strength in both the iOS and Android ecosystems.
01/09/20
UBSW
01/09/20
DOWNGRADE
Target $85
UBSW
Neutral
Lumentum downgraded to Neutral from Buy at UBS
UBS analyst Tejas Venkatesh downgraded Lumentum Holdings to Neutral from Buy with a price target of $85, up from $71. With the shares nearly doubling in 2019 and now trading at a 15 times price-to-earnings ratio on fiscal 2021 estimates, the risk/reward is now balanced, Venkatesh tells investors in a research note. The analyst believes the positives are now largely reflected in Lumentum shares.
01/10/20
RAJA
01/10/20
DOWNGRADE
Target $88
RAJA
Outperform
Lumentum downgraded to Outperform from Strong Buy at Raymond James
Raymond James analyst Simon Leopold downgraded Lumentum Holdings to Outperform from Strong Buy with an $88 price target.

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