Coherent (COHR) is Reiterated by Stifel to Buy, Raises Price Target to $ 120

Coherent (COHR) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 120 from a previous price target of $115 . Stifel advised their investors in a research report released on Jul 28, 2016.

Many Wall Street Analysts have commented on Coherent. Shares were Reiterated by The Benchmark Company on Jul 28, 2016 to “Buy” and Lowered the Price Target to $ 112 from a previous price target of $115 .Company shares were Reiterated by The Benchmark Company on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 115 from a previous price target of $110 .

On the company’s financial health, Coherent reported $1.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $1.11. The company had revenue of $218.80 million for the quarter, compared to analysts expectations of $211.94 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS.

Coherent opened for trading at $102 and hit $105 on the upside on Thursday, eventually ending the session at $103.75, with a gain of 5.11% or 5.04 points. The heightened volatility saw the trading volume jump to 4,95,645 shares. Company has a market cap of $2,520 M.

In a different news, on May 24, 2016, L William Krause (director) sold 7,700 shares at $89.07 per share price. According to the SEC, on May 19, 2016, Luis Spinelli (Exec VP, CTO) sold 3,027 shares at $84.96 per share price. On Mar 22, 2016, Paul F Sechrist (EVP Worldwide Sales & Services) sold 19,000 shares at $90.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Coherent Inc. is a supplier of photonics-based solutions for a range of commercial and scientific research applications. The Company designs manufactures services and markets lasers and related accessories to customers. The Company operates in two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC). The SLS segment develops and manufactures configurable products serving the microelectronics scientific research and government programs and original equipment manufacturer (OEM) components and instrumentation markets. The CLC segment’s primary markets include materials processing OEM components and instrumentation and microelectronics.


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