Rosenblatt upgraded Lumentum to Buy from Neutral with a price target of $62, down from $67. The firm says the company’s model is “de-risked” following the Q1 guide down. Demand for 800G Datacom transceivers has “exploded” driven by artificial intelligence and is likely to be strong for multiple years, the analyst tells investors in a research note. Rosenblatt believes Lumentum’s datacom revenue should grow sequentially from here.
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