Core Insights - Nvidia-backed stocks Coherent and Lumentum have received positive attention from Wall Street analysts, leading to significant price increases for both companies [2][3]. Group 1: Stock Performance - Coherent (COHR) shares increased by 7% and Lumentum (LITE) shares surged over 10% following Bank of America analysts raising their price targets [2]. - Coherent's price target was raised from $250 to $290, while Lumentum's target increased from $600 to $775, both exceeding the average market expectations [3]. - Coherent shares have risen nearly 50% since the beginning of the year, and Lumentum shares have more than doubled in the same timeframe [5]. Group 2: Market Drivers - The analysts' optimism stems from insights gained at the 2026 Optical Fiber Communications conference, where they noted strong growth prospects driven by the AI boom and increased demand for networking hardware [2]. - Both companies are set to join the S&P 500 later this month, which is expected to further enhance their stock performance [4]. Group 3: Recent Developments - Recent gains for both stocks are attributed to a series of positive developments, including multibillion-dollar investments from Nvidia [6].