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

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Sidoti & Co. Initiates Coherent With Buy
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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
Jul 2015Stifel NicolausMaintainsBuy
Jun 2015Sidoti & Co.Initiates Coverage onBuy
Jun 2015BenchmarkInitiates Coverage onBuy

View More Analyst Ratings for COHR
View the Latest Analyst Ratings

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