Stock Track | Lumentum Soars 13.42% Intraday After Morgan Stanley Raises Price Target

Stock Track

Jan 30

Lumentum Holdings Inc.'s stock is soaring 13.42% in intraday trading following a significant analyst price target increase.

The surge comes after Morgan Stanley raised its price target on Lumentum to $350 from $304, while maintaining an Equalweight rating on the stock. The substantial upward revision in the firm's valuation reflects increased optimism about the company's prospects.

Positive momentum for Lumentum was already evident in pre-market trading, where the stock was among notable gainers, posting an increase of at least 5% before the regular session opened.

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