Shares of Viavi Solutions Inc. VIAV, +2.80% are up 2.7% in premarket trading Monday after Needham analyst Alex Henderson upgraded the stock to buy from hold. "3D has been priced in at Lumentum LITE, +1.88% II-VI IIVI, +1.44% and Finisar FNSR, +0.62% we think it's less in the numbers at Viavi due to the slow start," Henderson wrote. "We think 3D volumes are likely to double in CY19 from CY20 and Viavi believes it has a lock on the business with patents." He estimates that 3D sensing could contribute at least 3 cents to 5 cents in incremental EPS between fiscal 2018 and fiscal 2019, as well as in fiscal 2020. He set a $13.50 price target on the stock. Shares are up 0.9% over the past 12 months, while the S&P 500 SPX, +0.26% has gained 16%.
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