As previously reported, Rosenblatt downgraded Coherent (COHR) to Neutral from Buy with a $105 price target noting that the stock is up 126% year-to-date, which the firm attributes to “leadership” in Datacom transceivers for AI, a “strong new CEO,” and the potential for the Telecom and Industrial businesses to improve. While the firm believes Coherent will be “a long-term AI winner,” and contends that the stock looks good for investors with a three-year time horizon, it foresees FY25 headwinds that “may disappoint more bullish expectations,” the analyst tells investors.
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