Jefferies Raises Lumentum (NASDAQ: LITE) Price Target Amid Optics Stock Buzz
Key points
- Jefferies analyst Blayne Curtis has increased his price target for Lumentum (NASDAQ: LITE) to $1,250.00 from $1,200.00.
- Optics stocks are gaining attention ahead of upcoming earnings reports, with Lumentum, Applied Optoelectronics (NASDAQ: AAOI), and Coherent (NYSE: COHR) all seeing price increases.
- Lumentum's CEO discusses growth tied to the technology boom, and Zacks Investment Research views the company as a long-term growth stock, though specific financial details were not provided.
Jefferies analyst Blayne Curtis raises his price target for Lumentum (NASDAQ: LITE) to $1,250.00 from $1,200.00. Lumentum makes optical products used in communications networks. At the cited share price of $822.51, the new target implies about 52% upside. A price target is an analyst’s estimate, not a guaranteed future price.
The $50.00 increase in Curtis’s target comes as optics stocks draw attention ahead of earnings reports. Lumentum rises 4% to $856.18 on Monday, while Applied Optoelectronics (NASDAQ: AAOI) gains 5% to $79.01 and Coherent (NYSE: COHR) climbs 2% to $236.93, as highlighted by 24/7 Wall Street.
A separate price snapshot puts Lumentum at $822.51, down $12.00, or 1.44%. Its range for that day is $785.00 to $837.78, while its range over the past year is $152.54 to $1,143.00. The $1,250.00 target is above that one-year high.
Lumentum CEO Michael Hurlston discusses growth tied to the technology boom in a Fox Business interview, though the provided description gives no financial figures. A Zacks Investment Research article presents Lumentum as a long-term growth stock, but its excerpt provides no company-specific results or growth rating to support that view.
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