Aug. 31 at 10:01 AM
$LITE Lumentum initiated with an Outperform at Evercore ISI
Evercore ISI analyst Amit Daryanani initiated coverage of Lumentum with an Outperform rating and
$1,100 price target. The firm says that as AI accelerator deployments continue to inflect higher, their utilization is "severely limited" by connectivity. Lumentum's "diversity of growth means not all things need to go right for the stock to work," the analyst tells investors in a research note. Evercore believes the company benefit significantly from AI deployments.