Lumentum and Coherent surge as J.P. Morgan raises price targets on strong hyperscaler AI demand

Lumentum and Coherent stocks climbed following positive commentary about demand from hyperscalers (major cloud and AI infrastructure companies)

J.P. Morgan issued fresh price-target increases for both companies, signaling confidence in their growth prospects

The gains reflect broader investor optimism around AI infrastructure stocks benefiting from accelerating demand for computing power