Stock Track | Lumentum Soars 5.25% in Post-Market on Strong Q2 Results and Analyst Upgrades

Stock Track

02/05

Lumentum Holdings (LITE) stock surged 5.25% during post-market trading on Wednesday, reflecting significant investor optimism.

The sharp rise follows the company's reported second-quarter results that exceeded expectations, with shares initially jumping 9.1% after the earnings release. The subsequent earnings call highlighted robust demand driven by artificial intelligence applications, fueling further positive sentiment.

Adding to the momentum, several analysts issued bullish updates. B. Riley Securities upgraded Lumentum from Neutral to Buy and dramatically raised its price target to $526 from $147. Similarly, UBS increased its price target to $455 from $215, while maintaining a Neutral rating, acknowledging the improved outlook.

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