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as per 18 analysts covering the stock. That points toward an 8% jump from current levels. However, a sharp spike in Lumentum's earnings growth could eventually translate into much stronger gains.

The broad S&P 500 closed just over 2%, its biggest jump in more than two weeks, while the Dow Jones Industrial Average gained 740 points, or about 1.8%. The tech-heavy Nasdaq was up nearly 2.5%.