In a report released today, Mark Miller from Benchmark Co. maintained a Buy rating on Coherent (NASDAQ: COHR), with a price target of $216. The company’s shares closed yesterday at $177.88.
Miller wrote:
“We maintain our Buy recommendation and $216 target price. Buy Current Price $177.88 Price Target $216.00 52-Wk Range $145.66 – $329.00 Market Cap (B) $4.32 Enterprise Value (B) $4.41 24,300 Avg. Vol. (30 day) (000s) 436.9 FY Sep Revenue (m) 2017A $346.073A $422.833A $464.107A $490.298A $1,723.311A 2018E $477.565A $481.118A $482.342A $480.000E $1,921.025E 2019E $460.000E $440.000E $465.000E $480.000E $1,845.000E Coherent Inc.”
According to TipRanks.com, Miller is a top 100 analyst with an average return of 24.3% and a 70.2% success rate. Miller covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Axcelis Technologies, and MKS Instruments.
Coherent has an analyst consensus of Strong Buy, with a price target consensus of $217.
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Based on Coherent’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $66.97 million. In comparison, last year the company had a net profit of $61.12 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.
