JPMorgan analyst Samik Chatterjee raised the firm’s price target on Coherent (COHR) to $300 from $245 and keeps an Overweight rating on the shares. The firm upped the company’s estimates following the company’s optical fiber communication event. Coherent is seeing a positive inflection in its near- and medium-term trajectory, driven by a convergence of demand tailwinds that are “both structural and durable,” the analyst tells investors in a research note. JPMorgan believes the AI-driven transformation of the data center is rapidly expanding the total addressable market for optics well beyond Coherent’s incumbency in the traditional pluggable transceiver market.
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