Needham Assumes Coherent (COHR) at Buy

Needham analyst Ryan Koontz assumes coverage on Coherent (NYSE: COHR) with a Buy rating and a price target of $85.00.

The analyst comments "We are transferring coverage of COHR to Ryan Koontz with a Buy rating and $85 price target. We see COHR in a strong position to benefit in Datacom from high growth AI and cloud infrastructure investment, coupled with steady Telecom demand and a modest recovery in Industrial. CEO Jim Anderson has recently affirmed interest in divesting underperforming product areas which should improve the company's growth profile and valuation multiple. With the company scheduled to report earnings on May 7th, our estimates are unchanged and price target lowered to $85 due to broad multiple compression seen across the tech sector."

For an analyst ratings summary and ratings history on Coherent click here. For more ratings news on Coherent click here.

Shares of Coherent closed at $64.49 yesterday.

You May Also Be Interested In

• Litchfield Hills Starts NextPlat (NXPL) at Buy
• KB Home (KBH) PT Raised to $56 at Truist Securities
• Benchmark Reiterates Hold Rating on Old Dominion Freight Line (ODFL) as 'Quality Largely Priced in'