StoneX Starts Coverage of Lumentum and Coherent With Buy Ratings
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StoneX opened coverage of Lumentum Holdings Inc. and Coherent Corp. with Buy ratings Monday, setting targets of $1,200 and $425 per share, respectively, as both companies cite customer activity in AI data center optics. Lumentum reported $1.01 billion in revenue for its fiscal fourth quarter, which ended June 27. It cited demand for high-power lasers used in co-packaged optics, an initial order for external laser source modules and engagements involving near-packaged optics. Coherent has more than 10 customer engagements each for co-packaged optics and near-packaged optics.
Source: TokenPost
