Coherent Corp (COHR – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst George Notter from Jefferies maintained a Buy rating on the stock and has a $135.00 price target.
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George Notter has given his Buy rating due to a combination of factors including Coherent Corp’s strong financial results and promising future outlook. The company’s December sales and earnings per share exceeded expectations, driven by robust performance in the Datacom and Telecom business lines. Additionally, Coherent is expanding its manufacturing capacity, which is expected to support future growth.
Furthermore, the Datacom segment is experiencing substantial growth and strength, particularly in 800G transceivers, with future prospects in 1.6T transceivers. The Telecom segment also shows signs of recovery with strong Data Center Interconnect sales. The analyst remains optimistic about potential new product growth and the positive impact of CEO Jim Anderson’s restructuring plans, which aim to enhance efficiency and profitability. These strategic moves support the Buy rating as they are expected to unlock significant earnings potential.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $120.00 price target.
Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is neutral on the stock.