Stifel analyst Ruben Roy raised the firm’s price target on Coherent (COHR) to $168 from $140 and keeps a Buy rating on the shares after the company exceeded consensus in fiscal Q1. With execution risk less of an overhang, and a clear roadmap ahead, Coherent is well-positioned to close the valuation gap against Lumentum (LITE), the analyst tells investors.
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Read More on COHR:
- Coherent price target raised to $170 from $135 at Barclays
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- Coherent reports Q1 adjusted EPS $1.16, consensus $1.04