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Fly News Breaks for February 5, 2020
Feb 5, 2020 | 07:17 EDT
Stifel analyst John Marchetti raised his price target on Lumentum shares to $93 from $70 after the company delivered what he called "stellar results and a strong outlook." He continues to believe Lumentum's superior scale and market share will reinforce its dominance in the 3D sensing VCSEL and telecom optical components markets, added the analyst. His revenue growth estimates have moved up for FY20 and FY21 and he now forecasts earnings growth in the mid-to-low 20% range for both years, noted Marchetti, who keeps a Buy rating on the shares.
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