In a report released today, Meta Marshall from Morgan Stanley maintained a Hold rating on Coherent Corp, with a price target of $290.00.
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Double your COHR exposure with Tradr's COHXMeta Marshall has given his Hold rating due to a combination of factors relating to Coherent’s near-term execution and margin trajectory. He views demand for the company’s optical products as exceptionally strong and acknowledges that capacity expansions and new facilities should ultimately lift gross margins as external laser purchases decline and yields improve.
However, he remains cautious about how quickly this margin improvement will materialize, given ongoing reliance on externally sourced lasers and the early stage of capacity ramps. While he sees the long-term growth opportunity as attractive and does not anticipate a major valuation reset, he also does not expect the upcoming quarter’s results or guidance to be a clear catalyst for meaningful upside, leading him to maintain a neutral stance and keep the price target unchanged at $290.
Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COHR in relation to earlier this year.