Deutsche Bank analyst Sidney Ho upgraded Coherent to Buy from Hold with a price target of $50, up from $45. The analyst says the company’s multiple growth drivers outweigh its near-term risks. Ho is "incrementally positive" on Coherent’s growth drivers and says investor concerns over its growth and debt leverage look "overly pessimistic." With the stock trading at five-times enterprise value to EBITDA on 2024 estimates, the risk/reward looks attractive, Ho tells investors in a research note.
Published first on TheFly
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