As previously reported, Northland analyst Tim Savageaux downgraded Coherent (COHR) to Market Perform from Outperform with a price target of $125, up from $105. Like peers Fabrinet (FN) and Lumentum (LITE), Coherent guided mid range fiscal Q2 revenue ahead of the firm’s estimates, but “with some important differences,” the analyst tells investors. While noting similar superlatives around data center demand, Coherent guided to a “much wider” relative range than peers that includes sequential declines at the low end and 5% comparable sequential growth, versus 10%-20% at peers, the analyst explains.
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Read More on COHR:
- Coherent price target raised to $150 from $120 at Morgan Stanley
- Coherent downgraded to Market Perform from Outperform at Northland
- Coherent price target raised to $168 from $140 at Stifel
- Coherent price target raised to $170 from $135 at Barclays
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