Lumentum (LITE) Momentum Continues, PT Raised to $51.50 - Jefferies
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Jefferies analyst James Kisner reiterated a Buy rating and boosted estimates and his price target on Lumentum (NASDAQ: LITE) to $51.50 (from $39.00).
Kisner commented, "Our discussions with the management of optical component companies in recent weeks convince us that the optical component industry is entering the strongest demand environment since the Telecom bubble. We are initiating Street-high revenue and EPS estimates for FY18. Reiterate Buy."
The firm raised FYY 2016 EPS estimates from $1.98 to $2.02 and maintained FY 2017 at $2.61.
Shares of Lumentum closed at $41.77 yesterday.
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