Craig-Hallum analyst Richard Shannon raised the firm’s price target on Coherent to $85 from $72 and keeps a Buy rating on the shares. The company’s mostly in-line results and guidance aren’t particularly compelling on their own, but the stock marked up in the after-market signals enthusiasm in the potential improvement that its new CEO can drive over time, the analyst tells investors in a research note. Having seen this first-hand at the CEO’s last company, the firm said it can testify to the strong reputation he has developed.
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