5 Stocks Getting a Huge Vote of Confidence From Wall Street Analysts

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01. Lumentum Holdings Inc. (NASDAQ:LITE)

Price Reaction after the Upgrade: +1.78 (+3.85%)

On August 18, Rosenblatt upgraded Lumentum Holdings Inc. (NASDAQ:LITE) rating from “Neutral” to “Buy,” indicating a substantial alteration in their viewpoint on the stock’s investment potential. This upgrade stems from Rosenblatt’s belief that Lumentum Holdings Inc. (NASDAQ:LITE) is poised for positive transformation, largely attributed to the burgeoning role of artificial intelligence (AI) as a novel driver in the technology domain. Furthermore, Rosenblatt has revisited and de-risked their estimates for Lumentum Holdings Inc. (NASDAQ:LITE), signifying increased confidence in the company’s projected performance. Additionally, they anticipate the resolution of the telecom inventory correction, which could usher in renewed growth opportunities for Lumentum Holdings Inc. (NASDAQ:LITE). By upgrading Lumentum Holdings Inc. (NASDAQ:LITE) rating to “Buy,” Rosenblatt underscores their conviction that the company is positioned for promising growth prospects. This upgrade can influence market sentiment, trading activities, and Lumentum’s stock performance trajectory.

See also 10 Best EV, Battery and Autonomous Driving ETFs and 20 Best-Funded AI Startups in 2023.

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