Industry Newsai opticsdata center opticslumentums and p 500
Lumentum Gains After BofA Raises Target
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Lumentum Holdings shares jumped 10.18% to $772.13 on Thursday after Bank of America raised its price target 29% to $775 and highlighted a $90 billion AI optics total addressable market over the next four years. The company projects 40% CAGR from last year's $18 billion, citing pluggables, lasers and co-packaged optics; Lumentum's S&P 500 inclusion becomes effective March 23, prompting index-driven rebalancing.
Scoring Rationale
Analyst upgrade and S&P inclusion drive high impact; constrained by company-specific focus and limited broader technological novelty.
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