Coherent price target raised to $230 from $210 at BofA

BofA raised the firm’s price target on Coherent (COHR) to $230 from $210 and keeps a Neutral rating on the shares. While noting that the magnitude of Coherent’s upside in results and guidance was “more restrained” compared to peer Lumentum (LITE), the firm also points out that its outyear estimates “rise meaningfully” as the multi-driver optics growth story accelerates into next year.

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