Northland raised the firm’s price target on Coherent to $50 from $45 and keeps a Market Perform rating on the shares. Coherent reported solid Q4 results and guidance, albeit not the upside recent share strength might imply, and comments from new CEO Anderson point to a major strategic portfolio and process review that one might associate more with a turnaround than a ready-made growth story, the analyst tells investors in a research note.
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