Susquehanna raised its price target on Coherent (NASDAQ: COHR) to $240.00 (from $225.00) while maintaining a Neutral rating. Coherent reported a strong 2Q with margins exceeding consensus estimates, driven by ongoing ELA growth and a full quarter contribution from Rofin.

The company reported revenue of $423M beating the consensus of $403M and guidance of $400M. EPS of $2.91 exceeded the consensus of $2.45.