Coherent price target raised to $105 from $85 at JPMorgan
The Fly

Coherent price target raised to $105 from $85 at JPMorgan

JPMorgan raised the firm’s price target on Coherent (COHR) to $105 from $85 and keeps an Overweight rating on the shares as part of an earnings preview. Shares of optical companies continue to outperform the broader group of hardware and networking companies on a year-to-date basis and over the past two months, the analyst tells investors in a research note. The firm says investors are increasingly appreciating the underlying demand drivers in the near- to medium-term, including the growing role of optics in expanding artificial intelligence clusters in datacenters, where capital expenditures remain robust.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App