Coherent price target lowered to $105 from $112 at Benchmark

Benchmark lowered the firm’s price target on Coherent (COHR) to $105 from $112 and keeps a Buy rating on the shares. Coherent reported record sales in the December quarter and upside to earnings, driven by strong AI related Data Center sales, the analyst tells investors. For FY26, continued strength in Datacom, driven by AI transceiver sales, along with improvements in the Telecom and the Industrial markets and improving margins, are seen driving 20% year-over-year non-GAAP EPS growth to $4.15, the analyst added.