Lumentum price target raised to $225 from $150 at Rosenblatt

Rosenblatt raised the firm’s price target on Lumentum (LITE) to $225 from $150 and keeps a Buy rating on the shares. The firm reiterates the stock as a best idea for 2025. Lumentum has “tremendous” near-term momentum due to increasing supply and strong demand for 200G EML lasers used in 1.6T and certain 800G data center transceivers and narrow linewidth tunable lasers, the analyst tells investors in a research note. Rosenblatt also sees also growing mid-term momentum for the company as products like optical circuit switch and ultra-high power lasers for co-packaged optics build nine figure order books.