From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 30s
Lumentum Stock Rises After Citigroup Upgrade
Citigroup boosts Lumentum target, stock jumps 7.4%.
In brief
Citigroup boosts Lumentum target, stock jumps 7.4%. Citigroup raised Lumentum's price target to $1400 from $1200, lifting shares 7.4% to $989.11. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
Lumentum stock surge
Lumentum Holdings surged 7.4% to $989.11 on Tuesday.
Citigroup upgrade
Citigroup raised target from $1200 to $1400.
Trading activity
Volume hit 2.4M shares, market cap reached $88.7B.
Analyst confidence
Analysts see continued strength in Lumentum's business fundamentals.
What to watch
Monitor if other firms follow with higher targets.
The short version
Citigroup raised Lumentum's price target to $1400 from $1200, lifting shares 7.4% to $989.11.
