NPTN - NeoPhotonics rises Lumentum dips as Rosenblatt updates optical-parts stance

A pair of optical component makers are moving in opposite directions today as Rosenblatt analyst Ryan Koontz shifts some ratings. NeoPhotonics (NPTN) is 2.7% higher as Koontz upgrades the stock to Buy from Neutral, saying that stock is "uniquely well positioned" to benefit from a transition to pluggables from embedded coherent optics - and to lead in 400G+ and 400ZR pluggable modules, markets on the rise. He's raised the NPTN price target to $16 from $12, implying 19% upside. Lumentum (LITE), meanwhile, is 0.9% lower as the firm downgrades to neutral from Buy. That comes with "few near- to medium-term catalysts to get excited about," alongside talk of potential production cuts for the iPhone in the first half, along with a downbeat view on a potential transaction with Coherent: The escalating bids add to suspicions of "few game-changing organic opportunities." He's reduced LITE's price target to $97 from $105, trimming

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NeoPhotonics rises, Lumentum dips as Rosenblatt updates optical-parts stance