UPDATE: Deutsche Bank Resumes II-VI, Inc. (IIVI) at Hold

September 2, 2021 3:17 AM EDT
Get Alerts IIVI Hot Sheet
Price: $41.95 --0%

Rating Summary:
    17 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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(Updated - September 2, 2021 6:40 AM EDT)

Deutsche Bank analyst Sidney Ho resumes coverage on II-VI, Inc. (NASDAQ: IIVI) with a Hold rating and a price target of $75.00.

The analyst commented, "We resume coverage of IIVI with a Hold rating and a 12-month price target of $75. IIVI has a long history of successful M&As and deals that initially raised questions but turned out well driven by strong execution. The pending deal with COHR will nearly double the enterprise value of the company, and it's different from past deals because it was won through a very public bidding process. We see the merits of this transaction (i.e. product breadth, end market reach, and scale) and Bain Capital's $2b+ committed investment adds credibility to the deal, but the deal does not look cheap with the transaction valued at ~20x EV-to-EBITDA (CY22E pre-synergies)."

For an analyst ratings summary and ratings history on II-VI, Inc. click here. For more ratings news on II-VI, Inc. click here.

Shares of II-VI, Inc. closed at $62.66 yesterday.

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