Lumentum Holdings (LITE) received an “Outperform” rating and a price target of $290 from Mizuho, expecting significant growth in laser revenue due to AI infrastructure demand. Industry giants like Alphabet (GOOGL), Google (GOOG), and Nvidia (NVDA) are also utilizing Lumentum’s technology in their projects. Lumentum’s fiscal Q1 saw a 58% revenue increase, with forecasts for strong growth in Q2. Analysts predict revenue to double by fiscal 2028, leading to a stock price target of $366 in two years. LITE stock currently trades at $264, with a majority of analysts recommending a “Strong Buy.”

Read more at Barchart: Analysts Think This Tech Stock Will Power the Next Wave of Hyperscaler Growth. They Just Gave It a New Street-High Price Target.