Benchmark Co. Maintains Their Buy Rating on Coherent

In a report released today, Mark Miller from Benchmark Co. maintained a Buy rating on Coherent (NASDAQ: COHR), with a price target of $275. The company’s shares closed yesterday at $176.12, close to its 52-week low of $157.47.

According to TipRanks.com, Miller is a top 25 analyst with an average return of 27.6% and a 71.7% success rate. Miller covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Ipg Photonics Corp, and Nanometrics Inc.

Coherent has an analyst consensus of Strong Buy, with a price target consensus of $288.17.

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Based on Coherent’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $481 million and quarterly net profit of $65.3 million. In comparison, last year the company earned revenue of $423 million and had a net profit of $41.85 million.

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Coherent, Inc. engages in the design, manufacture and service of lasers and related accessories. It operates through the OEM Laser Sources (OLS), and Industrial Lasers and Systems (ILS) segments.