Northland Raises Lumentum (LITE) Price Target as AI Data Center Optics Outlook Improves
Northland Raises Lumentum (LITE) Price Target as AI Data Center Optics Outlook Improves.
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Lumentum Holdings Inc. (NASDAQ: LITE ) is one of the 7 Underperforming Data Center Stocks to Buy According to Short Sellers . On June 12, Saiyi He of CMB International Securities started coverage of Lumentum Holdings Inc. (NASDAQ:LITE) with a Buy rating. The analyst set a price target of $1070 for the stock. The firm's assigned price target implies a further 46% upside from current levels. This upside is close to the median Wall Street analysts' upside of 55%.
On a more bullish note, Northland Securities analyst Tim Savageaux raised the firm's target price on Lumentum Holdings Inc. (NASDAQ:LITE) from $1000 to $1200 and kept an Outperform rating on the stock. The analyst believes sector-wide tailwinds will trigger the upside in LITE stock. He mentioned that recent positive comments from Nvidia CEO Jensen Huang have increased investor confidence in Marvell Technology. The positive AI data center results from HPE and strong spending on AI infrastructure by Alphabet Inc. also support a positive outlook for the sector. The analyst raised price targets on several communications technology companies, as demand for AI optical and networking is growing rapidly. Moreover, according to CNN's compilation of analyst price targets, LITE stock has a median target price of $1130, which reflects a further 55% upside from the current share price, confirming that Tim Savageaux's sentiment is shared across Wall Street.
Lumentum Holdings Inc. (NASDAQ:LITE) provides optical and photonic products. It operates through two segments: Cloud and Networking, which deals with optical and photonic components, modules, and subsystems, and Industrial Tech, which includes solid-state lasers, kilowatt-class fibre lasers, ultrafast lasers, diode lasers, and gas lasers.
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READ NEXT: Top 10 Extreme Value Stocks To Buy Now and 8 Hidden Multibagger Stocks to Buy Now .
Sinergia Empresarial continuará el seguimiento de esta información sobre northland Raises Lumentum (LITE) Price Target as AI Data Center Optics Outlook Improves y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
