Lumentum (LITE) PT Lowered to $90 at Jefferies

Jefferies analyst Blayne Curtis lowered the price target on Lumentum (NASDAQ: LITE) to $90.00 (from $100.00) while maintaining a Buy rating.

The analyst comments "LITE hosted their annual OFC investor briefing, revising their LT model higher and highlighting opportunities from Optical Circuit Switches (OCS) and high-power lasers. We see LITE as a share winner with the move to EMLs and expect growth in the transceiver business as the market looks for more US capacity. CPO adoption/magnitude risk in the next few years is moderate and LITE sees any shift as a wash given its higher laser share vs transceivers."

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