Coherent price target raised to $90 from $65 at Benchmark

Benchmark raised the firm’s price target on Coherent to $90 from $65 and keeps a Buy rating on the shares. Coherent posted results slightly above investor expectations and guided September non-GAAP earnings within investor expectations, the firm says. For FY26, Benchmark sees continued strength in Datacom driven by AI transceiver sales along with improvements in Telecom and the Industrial markets and improving margins driving 64% year over year non-GAAP earnings growth to $4.58 per share.