Barclays Lifts Lumentum to Overweight, $1,000 Target Signals 36% Upside

Barclays upgraded Lumentum (LITE) from Equal Weight to Overweight on July 20, 2026, holding a $1,000 price target — about 36% above the current price. Shares jumped 7.7% to $775.87, topping the S&P 500. The call follows Reuters' report that Nvidia plans a $2 billion investment in Lumentum for data center chip technology.