Needham & Company LLC Lowers Coherent Price Target to $76.00 (COHR)
Analysts at Needham & Company LLC decreased their price objective on shares of Coherent (NASDAQ:COHR) from $86.00 to $76.00 in a research report issued to clients and investors on Thursday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 24.96% from the stock’s previous close.
A number of other firms have also recently commented on COHR. Analysts at B. Riley reiterated a “neutral” rating on shares of Coherent in a research note on Wednesday. They now have a $71.50 price target on the stock. Separately, analysts at Zacks upgraded shares of Coherent from an “underperform” rating to a “neutral” rating in a research note on Monday, April 7th. They now have a $66.60 price target on the stock. Finally, analysts at Zacks downgraded shares of Coherent from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 5th. They now have a $79.30 price target on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Coherent has a consensus rating of “Buy” and an average price target of $74.02.
Coherent (NASDAQ:COHR) traded up 1.86% on Thursday, hitting $60.82. 217,730 shares of the company’s stock traded hands. Coherent has a 52-week low of $53.95 and a 52-week high of $76.98. The stock has a 50-day moving average of $64.90 and a 200-day moving average of $67.75. The company has a market cap of $1.511 billion and a P/E ratio of 23.08.
Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.82 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.78 by $0.04. The company had revenue of $199.20 million for the quarter, compared to the consensus estimate of $200.20 million. On average, analysts predict that Coherent will post $3.48 earnings per share for the current fiscal year.
Coherent, Inc (NASDAQ:COHR) is a suppliers of photonics-based solutions in a range of commercial and scientific research applications.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.