Northland raised the firm’s price target on Coherent (COHR) to $105 from $95 and keeps an Outperform rating on the shares following “slightly better” than expected fiscal Q4 results. Coherent headed into earnings trading at a 35% discount to peers Lumentum (LITE) and Fabrinet (FN), though “the kind of revelry” seen from Lumentum this earnings season “was not in evidence,” according to the analyst. The firm “would look to take advantage of sharp after market weakness in the shares,” the analyst added.
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