Coherent (COHR) PT Lowered to $250 at Susquehanna

Susquehanna lowered its price target on Coherent (NASDAQ: COHR) to $250.00 (from $270.00) while maintaining a Positive rating.

Analyst Mehdi Hosseini commented, "We are lowering FY19 est to account for lack of visibility on the timing of Samsung's A5 fab. However, ELA system shipment to China in FY19 expected to be flattish while RoFin still remains a wild card."

The firm has essentially taken 6 ELA system out of our FY19 model, reducing FY19 revenue estimate by ~$100M. Their updated Rev/EPS estimates of $2,015M/$14.41 compare to the prior estimates of $2,115M/$16 and the current consensus of $2,109M/$16.56

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