Lumentum Stock Extends Rally to $866 Ahead of Earnings
By Abdelaziz Fathi
AI summary of the source article
Lumentum Holdings shares rose to approximately $866 following a Buy rating and $1,200 price target initiation from StoneX. The rally lifted the stock roughly 14.5% over two sessions ahead of its scheduled November 5 fiscal first-quarter earnings report.
Why it matters
StoneX's new Buy rating and $1,200 price target helped revive interest in AI-optics stocks, but the rally is approaching a more consequential test: Lumentum's fiscal first-quarter results, scheduled for November 5.
Key facts
- StoneX initiated coverage on Lumentum with a Buy rating and a $1,200 price target on October 26.
- Lumentum shares closed at approximately $866 on October 27, gaining 5.8% after rising 8.19% the previous session.
- Lumentum is scheduled to release its fiscal first-quarter results on November 5, with guided revenue between $1.225 billion and $1.275 billion.
Source excerpt · FinanceFeeds
Lumentum Holdings (NASDAQ: LITE) shares extended their rebound on Tuesday, October 27, closing at approximately $866, up about 5.8%, after gaining 8.19% in the previous session. StoneX's new Buy rating and $1,200 price target helped revive interest in AI-optics stocks, but the rally is approaching a more consequential test: Lumentum's fiscal first-quarter results, scheduled for November 5. The two…