Lumentum shares surge 10.61% intraday on JPMorgan price target raise to $185 and AI data center product launch.

Lumentum Holdings Inc. (NASDAQ:LITE) surged 10.61% intraday following a series of positive developments. JPMorgan Chase raised its price target to $185 from $145, while Morgan Stanley increased its target to $145 from $100, signaling strong institutional confidence. Institutional investors, including Fifth Third Wealth Advisors and Robeco Institutional Asset Management, acquired shares, adding to bullish momentum. Additionally, Lumentum announced the R64 optical circuit switch platform for AI data centers, highlighting its strategic focus on high-growth markets. Analyst upgrades and product innovation collectively drove the sharp intraday rally, reflecting optimism about the company’s positioning in the AI infrastructure sector.