Lumentum price target lowered to $41 from $42 at B. Riley

B. Riley lowered the firm’s price target on Lumentum to $41 from $42 and keeps a Neutral rating on the shares post the fiscal Q2 report. The firm says Datacom revenue growth is expected to pause in Q4 and Q1 due to a major customer’s product transition while telecom demand will remain soft through the balance of fiscal 2024.