Shares of optoelectronics company Lumentum Holdings Inc. LITE, +1.53% are up nearly 4% in premarket trading after Goldman Sachs analyst Rod Hall upgraded the stock to buy from neutral. "We note that Lumentum's 3D sensing business is robust and gaining pace and the Lasers business is seeing strong demand," Hall wrote. "We further note that our detailed 3D sensing modeling shows upside vs. consensus in CY'19 as we believe consensus is underestimating the iPad/Android opportunity as well as average module maker yields." |