Monday – Lumentum Holdings (NASDAQ:LITE) received an initiation of coverage from Evercore with an Outperform rating and a $1,100 price target. The firm highlighted a 30% supply shortfall for indium phosphide lasers and projected the optical AI market to grow from $18 billion to over $90 billion by 2030. Evercore also expects optical circuit‑switching demand to rise more than 150%, forecasting FY28 earnings per share of $35, potentially up to $50, and gross margins expanding to 54%.
Tuesday – Jefferies upgraded Sempra Energy (NYSE:SRE) to Buy. The analyst noted that SRE trades at a 14% earnings discount to peer utilities, a gap attributed to market concerns over Texas transmission capital‑expenditure delays and California regulatory issues. Jefferies pointed out that SRE’s California exposure lacks the wildfire liability that weighs on peers such as PG&E and Edison International.
Wednesday – TD Cowen downgraded EyePoint Pharmaceuticals (NASDAQ:EYPT) to Hold and cut its price target to $4. The downgrade follows a disappointing Phase III LUGANO trial, which management described as a statistical anomaly affecting nine patients. Even after removing the poorest 4% of patients, the post‑hoc data remained weak. The analyst removed wet‑AMD sales from the model, shifting focus to later‑stage diabetic macular edema trials and the need for the LUCIA study to deliver strong results.
Thursday – Truist lowered Covista Inc. (NYSE:CVSA) to Hold from Buy, maintaining a $140 price target. The firm cited continued cold valuation metrics, with industry peers trading at multiples well below five‑year historical averages.
Friday – Baird upgraded Sonida Senior Living (NYSE:SNDA) to Outperform with a $43 price target. The recommendation cited macro tailwinds from an aging population and constrained senior‑housing capacity, as well as a newly built operating platform. The analyst also noted that the company faces virtually no debt maturities until 2028.
