Stifel analyst Ruben Roy initiated coverage of Coherent with a Buy rating and $48 price target. The combination of II-VI and legacy Coherent has "established itself as one of the largest suppliers of photonics components and compound semiconductor materials" and he believes the combined company is well positioned to benefit from a diverse group of end market and application areas, the analyst tells investors. He also expects profitability to improve as longer-term synergies are realized, Roy added.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on COHR: