Coherent price target raised to $150 from $135 at Rosenblatt

Rosenblatt analyst Mike Genovese raised the firm’s price target on Coherent (COHR) to $150 from $135 and keeps a Buy rating on the shares. While noting that shares have under performed year-to-date versus Lumentum (LITE) and Fabrinet (FN), the firm argues that “this is still a market where AI demand is lifting all boats in the high speed Optical connectivity space.”