JPMorgan lowered the firm’s price target on Coherent (COHR) to $80 from $120 and keeps an Overweight rating on the shares. The firm updated hardware and networking models to reflect its best view of the second order impact of the current macro uncertainty stemming from tariffs. JPMorgan now embeds a broader macro slowdown and associated demand moderation across most customer verticals into its estimates. The analyst expects a macro slowdown to lead to lower demand from consumers, as well as enterprises and telecom customers.
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Read More on COHR:
- Coherent price target lowered to $70 from $125 at BofA
- Coherent price target lowered to $110 from $136 at Citi
- 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
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