II-VI Shares Gain Steam As Raymond James Upgrades Stock

Raymond James analyst Simon Leopold upgraded II-VI Inc IIVI to Outperform from Market Perform with a price target of $77. The price target implies a 12.7% upside.

• Leopold sees significant growth led by hyper-scale builders investing in 400G, 200G, and 100G optical transceivers.
• Related Content: Read Why Morgan Stanley Sees 26% Upside In II-VI, II-VI Reports Mixed Q1 Results, Sees Q2 Revenue Below Consensus
• Leopold sees the Coherent Inc COHR deal closing in the first half of 2022.
• II-VI is a global leader in engineered materials and optoelectronic components. It is a vertically integrated manufacturing company that develops innovative products for diversified applications in communications, industrial, aerospace & defense, semiconductor capital equipment, life sciences, consumer electronics, and automotive markets.
• Price Action: IIVI shares traded higher by 2.44% at $70 in the premarket session on the last check Monday.