Lumentum price target raised to $55 from $45 at Susquehanna

Susquehanna raised the firm’s price target on Lumentum to $55 from $45 and keeps a Positive rating on the shares. The firm said A.I. is the driving factor for near-term upside as the company sees impressive datacom growth and adds Cloud Light however inventories still an issue for telecom and industrial lasers.