Coherent's AI Optical Transceiver And CEOs Turnaround Push Drive Growth: BofA Analyst
Portfolio Pulse from Anusuya Lahiri
Coherent Corp (NYSE:COHR) received an upgrade from BofA Securities analyst Vivek Arya, who raised the stock rating from Neutral to Buy and increased the price target to $75. Arya expects significant growth driven by Coherent's AI optical transceiver business and operational improvements under new CEO Jim Anderson. The stock is trading higher on this news.
August 12, 2024 | 5:44 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Lattice Semiconductor Corp (NASDAQ:LSCC) is mentioned as the previous company where Coherent's new CEO Jim Anderson successfully executed a turnaround. This highlights Anderson's capability and may indirectly benefit LSCC's reputation.
While LSCC is not the primary focus of the article, the mention of Jim Anderson's successful turnaround at Lattice Semiconductor could have a minor positive impact on LSCC's reputation. However, the direct impact on LSCC's stock price is likely to be minimal.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Coherent Corp (NYSE:COHR) has been upgraded from Neutral to Buy by BofA Securities with a new price target of $75. The upgrade is driven by expected growth in the AI optical transceiver market and operational improvements under new CEO Jim Anderson.
The upgrade from Neutral to Buy and the increased price target to $75 are significant positive signals for investors. The expected growth in the AI optical transceiver market and operational improvements under new CEO Jim Anderson are likely to drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100