Benchmark raised the firm’s price target on Coherent to $65 from $40 and keeps a Buy rating on the shares after the company reported earnings upside and guided to second half of FY24 improvements driven by continued strong AI-related transceiver orders from Data Centers. The firm see FY25 non-GAAP earnings growing 118% year-over-year to $3.47 per diluted share, the analyst noted.
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