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Fly News Breaks for August 24, 2017
Aug 24, 2017 | 07:34 EDT
B. Riley analyst Dave Kang noted that China Mobile (CHL) has issued a procurement notice for approximately 42,000 ports, but said there was no information on the mix of 10G/100G, which would be the most relevant information to determine its significance. Various industry executives he spoke with said it would be difficult to assess the impact of the tender without knowing the mix of 10G/100G and share allocations between customers. If this tender is mostly for 100G, it "could be a needle-mover for the optical component industry," added Kang, who has a Buy rating on Lumentum (LITE) shares.
News For LITE;CHL From the Last 2 Days
Mar 22, 2018 | 06:30 EDT
UBS analyst Tejas Venkatesh raised his price target for Lumentum Holdings to $80 saying strong Fundamentals should help sustain the company's "strong" growth. The analyst reiterates a Buy rating on the shares.
Mar 21, 2018 | 11:08 EDT
Drexel Hamilton analyst David Williams earlier today assumed coverage of Lumentum Holdings (LITE) with a Buy rating and $85 price target. The stock in late morning trading is up 2.4% to $71.08. The analyst highlights the company's "recent success"in 3D sensing modules with Apple (AAPL). He expects a "solid ramp into multiple Android customers" in the coming quarters. Williams is also "highly encouraged" by Lumentum's recent acquisition announcement of Oclaro (OCLR). He sees benefits "well beyond" the expected cost synergies.
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