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UPDATE: Stifel Nicolaus Reduces PT to $56 on Coherent on Macro Pressures

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Zacks Rank #5 Additions for Friday - Tale of the Tape

Stifel Nicolaus reiterated its Buy rating on Coherent (NASDAQ: COHR) but lowered its price target from $62 to $56.

Stifel Nicolaus noted, "Coherent's outlook continues to point to a challenging macro environment with a company-wide book-to-bill of 0.90x, despite sequential bookings increases in 3 of 4 segments. We maintain our Buy rating on shares of COHR as we continue to anticipate material FPD growth in FY13 and FY14 despite weak F4Q12 orders, material gross margin tailwinds, and challenges to non-FPD segments appear macro driven and temporary."

Coherent closed at $45.65 on Wednesday.

Latest Ratings for COHR

DateFirmActionFromTo
Jan 2015B. RileyUpgradesNeutralBuy
Nov 2014Longbow ResearchDowngradesBuyHold
Apr 2014B. RileyMaintainsNeutral

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Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

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