Stifel raised the firm’s price target on Coherent to $58 from $50 and keeps a Buy rating on the shares. The firm expects in line to above consensus results and outlook from Coherent when it reports its fiscal Q2 results after the market close Monday, February 5, the analyst tells investors. Discussions with supply-chain participants indicate improvements in component availability, which the firm thinks have enabled Coherent to significantly increase 800G transceiver module production over the past month, while recent commentary from competitor Innolight suggests strong December quarter 800G transceiver demand, the analyst added.
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