Barclays has adjusted its outlook on Lumentum Holdings (LITE, Financial), with analyst Tom O’Malley reducing the price target significantly from $125 to $70. Despite this adjustment, the firm maintains an Overweight rating on the stock.
This revision comes as Barclays updates its models for the semiconductor and semiconductor capital equipment sectors, taking into account the implications of tariffs and ongoing trade tensions in anticipation of the upcoming first-quarter earnings reports. The adjustments reflect reduced target multiples in response to perceived risks associated with Chinese markets and consumer demand.
