Needham & Company Starts Lumentum (LITE) at Buy

Needham & Company initiates coverage on Lumentum (NASDAQ: LITE) with a Buy rating and a price target of $30.00.

Analyst Alex Henderson commented, "We are initiating coverage of LITE shares with a Buy rating and a $30 Target Price. We think the overall optical market is starting to accelerate as cloud and metro demand adds to an already strong growth rate in long-haul and sub-sea. We expect 10-15% Revenue growth, expanding GMs and Operating Margins, and improving valuations over the next several years."

For an analyst ratings summary and ratings history on Lumentum click here. For more ratings news on Lumentum click here.

Shares of Lumentum closed at $23.45 yesterday.

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