What's Going On With Coherent Stock?
Portfolio Pulse from Ryan Gustafson
Coherent Corp. (NYSE:COHR) shares are trading higher despite a drop after the company posted Q4 results and issued Q1 and full-year 2024 outlook below estimates. The company beat Q4 earnings and sales estimates but issued lower than expected guidance for Q1 and full-year 2024. Several analysts lowered their price targets on Coherent, but the stock has rebounded over 2%.
August 17, 2023 | 7:35 pm
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Coherent Corp. shares rebounded despite lower than expected guidance for Q1 and full-year 2024. Analysts lowered their price targets on the company.
Coherent Corp. beat Q4 earnings and sales estimates but issued lower than expected guidance for Q1 and full-year 2024. This initially led to a drop in the stock price. However, the stock has rebounded, indicating investor confidence despite the lower guidance and reduced price targets from analysts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100