MKM Partners Reiterates Buy on Lumentum Holdings (LITE)

MKM Partners analyst, Michael Genovese, reiterated a Buy rating and $78.00 price target on Lumentum Holdings (NASDAQ: LITE). Management guided Commercial Lasers sales sequentially down in 1QFY19, and Genovese believes that this looks prudent given the impact tariffs are having on Chinese industrial demand.

Last week, Commercial Lasers maker IPGP negatively pre-announced due to tariff-related headwinds in China and Europe. MKM Partners thinks tariffs are negatively impacting Chinese industrial demand. However, LITE's exposure is likely limited to 1%-2% of company revenues. LITE gets 15% of overall sales from Commercial Lasers.

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 $57.50 yesterday.

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