Citi raised the firm’s price target on Coherent (COHR) to $115 from $110 and keeps a Buy rating on the shares following last week’s investor day. The firm came out of the meeting reassured in Coherent’s ability to meet or exceed its new target model. Before being an artificial intelligence story, Coherent is a self-help story, one with the company’s renewed focus on its key businesses coupled with its profitability improvements being the primary drivers of outperformance, the analyst tells investors in a research note.
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