10 Big Names Already Crushing This February

5. Lumentum Holdings Inc. (NASDAQ:LITE)

Lumentum Holdings rallied for a second day on Monday, jumping 8.06 percent to close at $423.42 apiece as investors loaded portfolios ahead of its earnings outcome which came out shortly after market close.

Earlier, Lumentum Holdings Inc. (NASDAQ:LITE) announced expectations of $630 million to $670 million in net revenues, as well as $1.30 to $1.50 diluted earnings per share for the second quarter ending December 31.

Prior to the results, Lumentum Holdings Inc. (NASDAQ:LITE) on Friday received a 15 percent price target upgrade from Morgan Stanley, at $350 versus $304 previously. However, it maintained an “equal weight” rating for its stock.

Apart from Morgan Stanley, Lumentum Holdings Inc. (NASDAQ:LITE) also received higher price targets from investment companies Citigroup and Stifel.

Citigroup, for its part, upgraded the stock by 87 percent to $450 from $240, while maintaining its “buy” recommendation.

Stifel, on the other hand, issued a $400 price target, double the $200 it targeted earlier, while reaffirming a “buy” issuance, on expectations that agentic AI and reasoning networks would lead to a step-function increase in networking intensity.