Morgan Stanley raised the firm’s price target on Coherent (COHR) to $83 from $74 and keeps an Equal Weight rating on the shares. Coherent’s analyst day highlighted opportunities the company has for high growth and laid out multiple ways in which they are positioned to gain share in high growth markets, the analyst tells investors. Commitments on growth were higher than expected, which causes the firm to raise “numbers meaningfully,” but investors were relatively long into the event, causing the firm to remain at Equal Weight, the analyst added.
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Read More on COHR:
- Coherent price target raised to $90 from $85 at Needham
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