Lumentum price target raised to $80 from $55 at Loop Capital

Loop Capital raised the firm’s price target on Lumentum to $80 from $55 and keeps a Buy rating on the shares. The post-earnings 22% sell-off was “intense”, but investors should look closely at the Transceiver business, which is poised to create “attractive to tremendous value” over the next 4-8 quarters, the analyst tells investors in a research note.