Rosenblatt Maintains Buy Rating for Lumentum Holdings: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Rosenblatt has maintained its Buy rating for Lumentum Holdings (NASDAQ:LITE) but lowered its price target from $62.00 to $55.00. Lumentum's shares are currently trading at $39.75, down 0.1% over the last 24 hours. A move to the new target price would represent a 38.36% increase from the current share price.
October 31, 2023 | 5:00 pm
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Rosenblatt has maintained its Buy rating for Lumentum Holdings but lowered its price target. This could potentially lead to a 38.36% increase in Lumentum's share price if the target is reached.
The maintained Buy rating indicates that Rosenblatt still sees potential in Lumentum Holdings. However, the lowered price target suggests a more conservative outlook. If the new target is reached, it would represent a significant increase from the current share price, which could positively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100