摩根士丹利上调价格目标，Lumentum成为焦点

2024-11-14 20:44

Lumentum (NASDAQ:LITE) was in focus on Thursday as Morgan Stanley upped its price target on the telecom equipment maker after its stronger-than-expected results and guidance resulted in praise from Wall Street.
"Circling back to LITE post the FQ1 print, we see the reason for enthusiasm on the name given multiple qualifications of transceiver customers & strong demand for [externally-modulated lasers]," analyst Meta Marshall wrote. "We raise our [price target] to account for gradual ramping of these customers vs. valuation which given more fulsome valuation credit for ramp." Marshall raised his price target to $76 from $61 on Lumentum, but kept his Equal-Weight rating.
"[The market is building in the bull case] around datacomm volumes, something we think can not be assumed to be a win today given volumes not known for another 6-7 months," Marshall added. "In near term, stock more likely to trade towards bull case as nothing to dispel earnings assumptions until ramp of new customers known."

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