Lumentum price target raised to $45 from $40 at Northland

Northland raised the firm’s price target on Lumentum to $45 from $40 and keeps a Market Perform rating on the shares. The price target increase reflects the bottoming and modest upturn in Telecom, with Datacom expectations in line in terms of planned capacity additions in InP EML lasers for AI datacom, where the company noted a shortage, the analyst tells investors in a research note.