Coherent Analysts Raise Their Forecasts After Upbeat Results
Portfolio Pulse from Avi Kapoor
Coherent (NYSE:COHR) reported Q2 financial results surpassing Wall Street estimates with sales of $1.131 billion and adjusted EPS of $0.36. The company also raised its fiscal year 2024 revenue and earnings outlook, leading to a 17.4% increase in its stock price. Analysts from Rosenblatt, Susquehanna, and Needham have subsequently raised their price targets on COHR.
February 07, 2024 | 2:15 pm
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Coherent reported better-than-expected Q2 results and raised its FY2024 outlook, leading to a significant stock price increase and upgraded analyst price targets.
Coherent's strong Q2 performance and positive future revenue and earnings guidance have significantly boosted investor confidence, reflected in the stock's sharp price increase. Analyst upgrades further validate the positive outlook for COHR, suggesting a continued upward trajectory in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100