Raymond James raised the firm’s price target on Coherent (COHR) to $371 from $243 and keeps a Strong Buy rating on the shares. Coherent reported a beat-and-raise quarter, but despite solid underlying execution supported by vertical integration and internal capacity expansion, limited upward guidance revisions and management’s conservative disclosure approach weighed on sentiment, leading to a post-earnings stock decline of about 7% after hours, the analyst tells investors in a research note.
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Read More on COHR:
- Coherent price target raised to $375 from $350 at Jefferies
- Needham’s Sean O’Loughlin Reiterates Buy on Coherent, Lifts Price Target to $395 on 6″ InP Capacity Ramp and Datacenter Growth Outlook
- Notable companies reporting after market close
- Coherent reports Q3 EPS $1.41, consensus $1.39
- Coherent sees Q4 EPS $1.52-$1.72, consensus $1.54