Coherent price target raised to $120 from $85 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Coherent (COHR) to $120 from $85 and keeps a Buy rating on the shares. The firm notes Coherent’s strong quarter driven by AI/datacom is not surprising, although upside from gross margin was not necessarily expected that will be enticing for many investors from which to extrapolate.