Lumentum (LITE) PT Raised to $77 at B. Riley
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Price: $880.41 -5.58%
Rating Summary:
24 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
Rating Summary:
24 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
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B. Riley raised its price target on Lumentum (NASDAQ: LITE) to $77.00 (from $58.00) while maintaining a Buy rating.
Analyst David Kang is incremental more confidence on the company's opportunities in the 3D sensing space. He comments that China optical demand remains soft with limited visibility.
He raises FY 2018 EPS estimate from $2.56 to $2.60 and introduces FY 2019 EPS estimate of $3.50.
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