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Fly News Breaks for January 2, 2020
Jan 2, 2020 | 07:16 EDT
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.
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