Lumentum Upgraded to Buy at Rosenblatt 
<p>Rosenblatt upgraded <a href='https://financialmodelingprep.com/financial-summary/LITE'>Lumentum (NASDAQ:LITE)</a> from a Neutral rating to a Buy rating, setting a price target of $62.00.</p>
<p>Lumentum is the primary producer of laser chips for Datacom transceivers, a position they hold with even more market share than previously estimated. This extends to Coherent's transceivers as well, owing to customer preferences for multiple suppliers of essential components. </p>
<p>According to the analysts, the surge in demand for 800G Datacom transceivers, fueled by artificial intelligence (AI) applications, is substantial and expected to remain robust for several years. Notably, the company's Datacom revenues are anticipated to experience sequential growth moving forward. </p>
<p>Although the telecom sector is presently navigating a significant inventory correction during the second half of the calendar year 2023, a strong recovery is foreseen in the first half of the following year.</p>

NASDAQ:LITE