Barclays Maintains Underweight on Lumentum Holdings, Raises Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Tom O'Malley has maintained an Underweight rating on Lumentum Holdings (NASDAQ:LITE) but increased the price target from $40 to $45.
January 16, 2024 | 5:33 pm
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Barclays has maintained an Underweight rating on Lumentum Holdings but raised the price target from $40 to $45, indicating a potential downside risk but a slightly improved outlook.
The Underweight rating suggests that Barclays believes Lumentum Holdings' stock may underperform the sector or the broader market. However, the increase in the price target from $40 to $45 indicates a slightly more positive outlook on the company's valuation, albeit still cautious. This could lead to a mixed reaction in the short term, with the potential for limited upside based on the new target but overall negative sentiment due to the Underweight rating.
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IMPORTANCE 75
RELEVANCE 100