Jun. 12 at 10:50 AM
$COHR Coherent price target raised to
$100 from
$86 at JPMorgan
JPMorgan analyst Samik Chatterjee raised the firm's price target on Coherent to
$100 from
$86 and keeps an Overweight rating on the shares. The first half of the year has been about climbing a "wall of worry" for optics companies, the analyst tells investors in a research note. The firm says the industry has successfully addressed investor concerns, including the most important one around disruption and disintermediation from co-packaged optics.
As such, JPMorgan is "incrementally positive" on the trajectory for the share price of optics companies in the second half of the year. It raised estimates and price target on both Coherent and Lumentum to incorporate stronger demand trends relative to telecom and Datacom.
