$Lumentum(LITE)$ $COHERENT(COH

$Lumentum(LITE)$ $COHERENT(COHR)$ JPMorgan analyst Samik Chatterjee notes that shares of optical suppliers Coherent and Lumentum are down nearly 20% from their early June highs due to a host of concerns, including limited summer catalysts and worries about delays in co-packaged optics adoption. However, JPMorgan sees a more interesting setup emerging as once-lofty optical premiums begin to look more palatable. The firm views the selloff as a buying opportunity and reiterates Overweight ratings on both Coherent and Lumentum. JPMorgan's channel checks suggest co-packaged optics adoption is on track.

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