Lumentum stock falls 4% as traders weigh Citi, Susquehanna target hikes before Feb. 3 results
Lumentum shares fell about 4% to $340.18 in late morning trading Friday, underperforming sector peers. Citi raised its price target to $450, following similar hikes from Susquehanna and Stifel. The moves come ahead of Lumentum’s fiscal Q2 results, due after the close on Feb. 3. Coherent, Applied Optoelectronics, and Ciena also traded lower.