Lumentum price target lowered to $40 from $42 at Barclays

Barclays analyst Tom O’Malley lowered the firm’s price target on Lumentum to $40 from $42 and keeps an Underweight rating on the shares post the results. The core business is weaker through the first half of the year and numbers move materially lower even with the addition of Cloud Light, the analyst tells investors in a research note.