Market Overview

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

Share:
Related COHR
Mid-Afternoon Market Update: Dow Rises Over 1%; Jabil Circuit Shares Decline Following Weak Results
Mid-Day Market Update: FedEx Surges On Earnings Beat; Guess? Shares Drop

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
Mar 2016Stifel NicolausMaintainsBuy
Jan 2016B. RileyMaintainsNeutral
Nov 2015B. RileyMaintainsNeutral

View More Analyst Ratings for COHR
View the Latest Analyst Ratings

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

 

Related Articles (COHR)

View Comments and Join the Discussion!