UPDATE: Raymond James Downgrades Lumentum (LITE) to Outperform, Remains Favored Play on Opticals
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(Updated - October 12, 2021 4:56 AM EDT)
Raymond James analyst Simon Leopold downgraded Lumentum (NASDAQ: LITE) from Strong Buy to Outperform with a price target of $96.00.
The analyst comments "We reduce our Lumentum rating to Outperform from Strong Buy considering both Pros and Cons for the stock including expectations for a lower than consensus outlook in December. Lumentum remains our favorite play on optical components. Our price target remains $96."
Shares of Lumentum closed at $85.54 yesterday.
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