Coherent initiated with a Buy at Jefferies

Jefferies analyst George Notter initiated coverage of Coherent (COHR) with a Buy rating and $135 price target Coherent is a materials science company with a focus on optoelectronic components and laser systems, the analyst tells investors in a research note. The firm thinks the Street still underestimates the amount of earnings power they can generate as new CEO Jim Anderson’s streamlining and restructuring plan gets implemented.