Needham analyst Ryan Koontz has maintained their bullish stance on COHR stock, giving a Buy rating on April 22.
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Ryan Koontz’s rating is based on Coherent Corp’s advantageous position to capitalize on the burgeoning AI and cloud infrastructure sectors, which are experiencing significant growth. The company is also expected to benefit from stable demand in the telecom industry and a gradual recovery in the industrial sector. Furthermore, CEO Jim Anderson’s strategy to divest underperforming product lines is anticipated to enhance the company’s growth potential and improve its valuation. Although the price target has been adjusted to $85 due to a general decline in valuation multiples across the tech industry, the overall outlook for Coherent Corp remains positive, justifying the Buy rating.
In another report released on April 22, Barclays also maintained a Buy rating on the stock with a $80.00 price target.