Lumentum Jumps 8% as StoneX Starts Coverage With $1,200 Target; Applied Optoelectronics and Coherent Climb 6%
StoneX’s $1,200 target on Lumentum sparked an 8% rally and lifted Coherent and Applied Optoelectronics as investors bet on AI infrastructure demand.
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BizTocLumentum Jumps 8% as StoneX Starts Coverage With $1,200 Target; Applied Optoelectronics and Coherent Climb 6%
A single Buy rating from a firm new to the name sent optical networking stocks surging well past the broader market, raising a pointed question about whether this is a genuine sector rebound or just a short-lived bounce after a brutal month.
Lumentum Stock Jumps 8% on StoneX $1,200 Target
Lumentum shares rose 8.19% to $818.10 on Monday after StoneX initiated coverage with a Buy rating and a $1,200 price target. The optical networking stock traded as high as $840.47 during the session, according to market data. The call renewed attention on a sector tied to data-center investment, but Lumentum remains below its reported 52-week high of $1,143, and its next quarterly results are due on 5 November. The move was not limited to Lument…
The optical network firm rose by about 8% after StoneX started its coverage with a purchase recommendation and a target price of $1,200. The demand for components for artificial intelligence, which the management describes as exhausted until 2029, also prompted other actions in the sector.
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