Coherent Corp (COHR) Gets a Buy from Loop Capital Markets

Loop Capital Markets analyst Ananda Baruah reiterated a Buy rating on Coherent Corp (COHR – Research Report) today and set a price target of $70.00. The company’s shares closed yesterday at $55.30.

According to TipRanks, Baruah is a 5-star analyst with an average return of 12.3% and a 52.49% success rate. Baruah covers the Technology sector, focusing on stocks such as Super Micro Computer, Apple, and Nvidia.

Currently, the analyst consensus on Coherent Corp is a Strong Buy with an average price target of $67.00, representing a 21.16% upside. In a report released today, Barclays also maintained a Buy rating on the stock with a $66.00 price target.

Based on Coherent Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.13 billion and a GAAP net loss of $26.99 million. In comparison, last year the company earned a revenue of $1.37 billion and had a GAAP net loss of $45.07 million

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Coherent Corp (COHR) Company Description:

II-VI, Inc. engages in the development, refinement, manufacturing, and marketing of engineered materials and opto-electronic components and devices for precision in the field of industrial materials processing, optical communications, aerospace and defense, consumer electronics, semiconductor capital equipment, life sciences, and automotive applications and markets. It operates through the following three segments: Laser Solutions, Photonics, and Performance Products. The Laser Solutions segment designs, manufactures, and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name. The Photonics segment manufactures crystal materials, optics, microchip lasers, and optoelectronic modules for use in optical communications networks and other diverse consumer, life sciences, and commercial applications. The Performance Products segment designs, manufactures, and markets infrared optical components and high-precision optical assemblies for aerospace and defense, medical, and commercial laser imaging applications. The company was founded Carl J. Johnson in 1971 and is headquartered in 1971 and is headquartered in Saxonburg, PA.