Barclays Upgrades Coherent to Overweight, Raises Price Target to $60
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Tom O'Malley has upgraded Coherent (NYSE:COHR) from Equal-Weight to Overweight and increased the price target from $38 to $60, indicating a positive outlook on the company's stock.
January 16, 2024 | 4:48 pm
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POSITIVE IMPACT
Coherent's stock rating has been upgraded by Barclays from Equal-Weight to Overweight, with a significant raise in price target from $38 to $60, suggesting a bullish stance on the stock's future performance.
The upgrade to Overweight by a major financial institution like Barclays typically indicates a strong conviction in the company's future performance and growth potential. The substantial increase in the price target further underscores this positive outlook, which can lead to increased investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100