Rosenblatt Sets Lumentum Target at $1,300

Rosenblatt Securities initiated coverage of LITE with a Buy rating today. The broker set a $1,300 target price. That implies significant upside for the photonics and optical networking company. Lumentum carries a market cap of $84.8 billion and short interest sits at 8.5% of free float.

Oppenheimer also made a bold move. Analyst Les Sulewski initiated VTRS (Viatris) with a Buy rating and a $25 target. The generic pharma giant has a $19.7 billion market cap. Short sellers look largely unconcerned — SI stands at just 3.3% of free float.

AZO drew a fresh new recommendation from consensus trackers. 17 analysts now cover AutoZone with Buy ratings. The consensus average target rose to $3,729 from $3,784. The auto parts retailer's $46.8 billion market cap keeps it a firm institutional favourite.

GRMN (Garmin) saw its average consensus target lift to $302 from $290. The tech hardware maker continues to attract bullish calls as wearables demand stays strong.

CHRW (C.H. Robinson) bucked the trend. The logistics group saw its consensus target dip to $197.56 from $199.40. Freight market softness is likely weighing on analyst outlooks.