Lumentum Holdings Inc. (NASDAQ:LITE) saw a 9.58% jump in stock price on Friday, closing at $255.59 per share amidst market optimism over a potential interest rate cut. The Federal Reserve’s final meeting of the year on December 9-10 will address this decision. Federal Reserve Bank of New York CEO John Williams believes further rate adjustments are possible.

Although Fed Chairman Jerome Powell suggested a December rate cut wasn’t guaranteed, Lumentum Holdings Inc. (NASDAQ:LITE) received positive coverage from Mizuho Securities, initiating a “buy” recommendation with a $290 price target. Mizuho cites Lumentum’s position as a leading optical communications and laser supplier, benefiting from strong AI demand.

Read more at Yahoo Finance: Lumentum (LITE0 Climbs 9.6%, Mirrors Broader Market Rally