Citi lowered the firm’s price target on Coherent (COHR) to $110 from $136 and keeps a Buy rating on the shares. The firm expects a rally in the North America communications equipment group on the Trump administration reciprocal tariff exemptions on PCs, smartphones, and 20 other products announced over the weekend. That said, Citi lowered its data center capex and PC models to reflect “macro induced “weak demand. The firm prefers artificial intelligence server exposed stocks to enterprise, saying many enterprises maintain a fixed IT budget and will be reluctant to raise capex in response to price increases. The analyst expects the consumer segment to get “hit the worse” on inflation and lower demand.
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Read More on COHR:
- Coherent price target lowered to $47 from $115 at Morgan Stanley
- Coherent upgraded to Outperform from Market Perform at Northland
- Booking Holdings upgraded, Nordstrom downgraded: Wall Street’s top analyst calls
- Rosenblatt bullish on transceivers, upgrades Coherent to Buy
- Coherent upgraded to Buy from Neutral at Rosenblatt
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