Coherent price target raised to $190 from $180 at Morgan Stanley

Morgan Stanley analyst Meta Marshall raised the firm’s price target on Coherent (COHR) to $190 from $180 and keeps an Equal Weight rating on the shares. Coherent has outperformed Lumentum (LITE) year-to-date, largely as performance catches up a little, but given expectations are lower, the firm is “more positively inclined on COHR vs. LITE into the print,” the analyst tells investors in an earnings preview.