Morgan Stanley Downgrades Coherent to Equal-Weight, Raises Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Meta Marshall downgraded Coherent (NYSE:COHR) from Overweight to Equal-Weight but increased the price target from $39 to $45.
December 13, 2023 | 12:22 pm
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Coherent was downgraded by Morgan Stanley from Overweight to Equal-Weight, although the price target was raised from $39 to $45.
The downgrade to Equal-Weight suggests a neutral outlook, indicating that the stock may perform in line with the market or sector. However, the increase in price target to $45 implies a positive view on the company's valuation, which could counterbalance the downgrade's impact. The net effect on the stock price may be muted in the short term as the market digests both pieces of information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100