Needham raised the firm’s price target on Coherent (COHR) to $90 from $85 and keeps a Buy rating on the shares after the company offered a new financial model and affirmed that photonics will continue to displace electrical interconnects in high growth data center connectivity during its analyst and investor day. Further gross margin expansion and operating expense efficiency are expected to nearly double Coherent’s operating margins to a new target of over 24% within 3-4 years, the analyst tells investors in a research note.
Claim 30% Off TipRanks
Forget margin or options. Here's how the pros trade COHRPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COHR:
- Coherent Corp’s Strategic Growth and Financial Optimization Drive Buy Rating
- Coherent price target raised to $92 from $80 at BofA
- Bullish Outlook on Coherent Corp: Strategic Growth and Earnings Potential
- Coherent Corp’s Growth Potential: Balancing Optimism with Caution in a Competitive Market
- Coherent Corp’s Growth Potential and Strategic Positioning Justify Buy Rating and Increased Price Objective