Barclays analyst Tom O’Malley raised the firm’s price target on Coherent (COHR) to $90 from $80 and keeps an Overweight rating on the shares after the company offered a new financial model and “healthy report card” on end markets during its analyst and investor day. However, the company “stopped short of highlighting anything transformational in portfolio optimization,” adds the analyst in a note titled “Kick Directly Through the Uprights, But Market Wanted a Touchdown”. The upside for Coherent will largely correlate with the continued spend in AI, which the firm sees “growing robustly,” added the analyst.
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Read More on COHR:
- Coherent Corp Outlines Growth Strategy at Investor Day
- Coherent sees EPS up 2.8x y/y in FY25, revenue up over 22%
- Coherent sees long-term revenue CAGR 10%-15%
- Coherent price target raised to $74 from $70 at Morgan Stanley
- Coherent Corp: Balancing Growth Prospects and Market Challenges with a Hold Rating