Trian takes new stakes in Sysco, Mondelez, omits confidential information » 17:2008/1408/14/20
SYY, MDLZ, PG, BK, GE, NVT, WEN
Nelson Peltz's Trian…
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Lumentum price target raised to $114 from $107 at MKM Partners » 08:4608/1208/12/20
MKM Partners analyst…
MKM Partners analyst Michael Genovese raised the firm's price target on Lumentum to $114 from $107 and keeps a Buy rating on the shares. The company's Q4 earnings beat was driven by optical comms and 3D sensing, while its margins expanded "sharply" on product differentiation, the analyst tells investors in a research note. Genovese adds that Lumentum has excellent products that are "significantly differentiated" in key areas such as "3D VCSELs, ROADMs, EML laser chips, and -ACO and -DCO modules."
Lumentum price target raised to $110 from $100 at DA Davidson » 08:4308/1208/12/20
DA Davidson analyst…
DA Davidson analyst Thomas Diffely raised the firm's price target on Lumentum to $110 from $100 and keeps a Buy rating on the shares. The company posted a "solid" Q4 earnings beat as ramping demand is exceeding its capacity while the supply bottlenecks appear to be easing, the analyst tells investors in a research note. Diffely adds that Lumentum is still ramping up its R&D investment and expanding its capacity for 5G rollout, datacenter upgrades, and a 3D sensing seasonal ramp, noting that its "exposure to key technology transitions" bode well for long-term outperformance of its shares.
Lumentum price target raised to $109 from $99 at B. Riley FBR » 08:3108/1208/12/20
B. Riley FBR analyst Dave…
B. Riley FBR analyst Dave Kang raised the firm's price target on Lumentum to $109 from $99 and keeps a Buy rating on the shares after the company reported Q4 revenue and EPS above consensus with an overall book-to-bill that was over 1. While he lowered his FY21 and FY22 EPS estimates to reflect lower sales estimates and higher expense assumptions, Kang is assigning the stock a bit of a higher multiple to reflect the multiple expansion of the optical group in recent months.
Lumentum price target raised to $115 from $105 at Needham » 08:1608/1208/12/20
Needham analyst Alex…
Needham analyst Alex Henderson raised the firm's price target on Lumentum to $115 from $105 and keeps a Buy rating on the shares after its Q4 earnings beat of guidance "on every metric". The company continues to deliver in spite of the COVID-19 constrained environment as demand for its highest-margin products is running ahead of capacity, the analyst tells investors in a research note. Henderson adds that he continues to see solid growth in Lumentum's 3D Sensing, Data Comm, ROADMs and Coherent products that should "easily offset continuing cyclical pressures in Industrial Lasers."
Lumentum price target raised to $120 from $100 at Craig-Hallum » 08:1008/1208/12/20
Craig-Hallum analyst Richard Shannon raised the firm's price target on Lumentum to $120 from $100 and keeps a Buy rating on the shares. The analyst notes that Lumentum continues to execute well in a favorable demand environment, as its strong EPS results and guidance suggest. While there are understandable questions about the sustainability of these trends and the impact of Huawei within it, Shannon sees a continued need for bandwidth in both cloud and telecom/wireless networks, and Lumentum's portfolio of high-end products with little competition are well-suited to address this need.
Lumentum price target raised to $107 from $90 at Northland » 07:4708/1208/12/20
Northland analyst Tim…
Northland analyst Tim Savageaux raised the firm's price target on Lumentum to $107 from $90 and keeps an Outperform rating on the shares after a Q4 report that he says offered "another clinic in execution." Savageaux, who sees Lumentum's Oclaro deal approaching "masterwork status," raised his "Street high" revenue and EPS forecasts for Lumentum's FY21 following the company's quarterly report.
Sysco price target raised to $60 from $51 at BMO Capital » 06:5308/1208/12/20
BMO Capital analyst Kelly…
BMO Capital analyst Kelly Bania raised the firm's price target on Sysco to $60 from $51 but keeps a Market Perform rating on the shares after its Q4 earnings beat. The analyst notes that cost cuts helped drive the quarter's results and additional reductions should benefit the company's longer-term earnings outlook, though she also sees "a lot" of this having been priced into the stock. Bania adds that trends have rebounded in August after a slower pace of recovery in July, though continued improvement through the winder is needed to meet consensus expectations for FY21.
Lumentum price target raised to $105 from $93 at Stifel » 15:0508/1108/11/20
Stifel analyst John…
Stifel analyst John Marchetti raised the firm's price target on Lumentum to $105 from $93 and reiterated a Buy rating on the shares after the company reported Q4 earnings. The company delivered results and guidance which highlighted the strong underlying demand fundamentals in its optical business and an improved profitability model that should be sustainable over the long-term, Marchetti told investors in a research note. The analyst believes any future Huawei-related headwinds will be offset by growth from other Chinese vendors. He also noted the stock remains "best positioned" to capitalize on "strong" growth drivers.
Sysco sees FY21 tax rate 24% 10:3708/1108/11/20