Coherent price target raised to $120 from $85 at Stifel

Stifel raised the firm’s price target on Coherent (COHR) to $120 from $85 and keeps a Buy rating on the shares after the company’s Q1 revenue came in modestly above guidance and consensus expectations and Q2 revenue guidance was also slightly above consensus estimates. The firm now looks forward to the company’s investor day in late May 2025, where it expects details on longer-term strategy and financial targets.