Stifel Raises Price Target on Coherent, Inc. (COHR) to $170 as Shares Trade up
Get Alerts COHR Hot Sheet
Rating Summary:
10 Buy, 13 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Stifel reiterated a Buy rating on Coherent (NASDAQ: COHR), and raised the price target to $170.00 (from $145.00), as increased demand for excimer lasers drives order growth.
Analyst Patrick Newton commented, "Since we first discussed the forthcoming “FPD Tsunami” in January 2016, shares of Coherent have posted impressive results (121.8% since January 28, 2016 as compared to the S&P500 at 20.2% during the same time period), with FY16 order growth of 84.5% y/y primarily driven by increased demand for the company’s excimer lasers used in flat panel display applications. The share price and Street estimates have reacted accordingly; however, investors have communicated some concern over orders having peaked, and the potential for this to lead to peak revenue and earnings in the FY18/19 timeframe."
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 $138.69 yesterday.
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