Lumentum Stock Rises 8% as StoneX Sets $1,200 Target Ahead…
By Rick Steves
AI summary of the source article
Lumentum shares gained 8.19% to $818.10 after StoneX initiated coverage with a Buy rating and a $1,200 price target. The rally also lifted optical peers Coherent and Applied Optoelectronics ahead of quarterly earnings reports in November.
Why it matters
The upcoming results will "provide the next test of whether AI-related demand is translating into company performance."
Key facts
- StoneX initiated coverage on Lumentum with a Buy rating and a $1,200 price target, sending shares up 8.19% to $818.10.
- Optical networking peers Coherent and Applied Optoelectronics rose 5.9% and 7.3%, respectively.
- Lumentum remains roughly 28% below its 52-week peak of $1,143, with next quarterly results scheduled for 5 November.
Source excerpt · FinanceFeeds
Lumentum shares rose 8.19% to $818.10 on Monday after StoneX initiated coverage with a Buy rating and a $1,200 price target. The optical networking stock traded as high as $840.47 during the session, according to market data. The call renewed attention on a sector tied to data-center investment, but Lumentum remains below its reported 52-week high of $1,143, and its next quarterly results are due…