Coherent (COHR) PT Raised to $100 at JPMorgan

JPMorgan analyst Samik Chatterjee raised the price target on Coherent (NYSE: COHR) to $100.00 (from $86.00) while maintaining a Overweight rating.

The analyst comments "Coherent: Raise estimates to reflect road to investor day targets and target multiple to reflect confidence. We are raising our estimates to reflect the higher growth and margin trajectory as the company makes progress towards its recently laid out investor day targets. Relative to the 3-year guide of 10%-15% revenue growth and gross margin of 42%+, we are modeling 10% revenue growth in both FY26 and FY27 and gross margins of ~39% in FY26 and ~40% in FY27. The above leads to forecast $4.50 of EPS in FY26 and $5.70 in FY27, which puts our FY27 estimates 4% above consensus despite assuming progress conservatively towards achieving the 3-4 year targets in 4 years rather than 3, even though we are already aware of multiple levers of upside to the assumptions. As mentioned above, the other material driver of the price target increase reflecting a stronger confidence in the targets, is the company successfully addressing concerns around CPO led disruption with the emphasis on its broad-based portfolio; as a result we are raising our target multiple to 22x and our Dec-25 price target to $100."

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