Needham raised the firm’s price target on Coherent (COHR) to $190 from $135 and keeps a Buy rating on the shares. The firm cites the company’s Q1 earnings beat and above-consensus Q2 outlook. Coherent is finally delivering on its capacity expansions to benefit from hypergrowth in AI/cloud capex, including its key InP fabs, the analyst tells investors in a research note.
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