Needham analyst James Ricchiuti raised his price target for Coherent (COHR) to $145 from $130 after the company provided updated guidance following the completion of its acquisition of Rofin-Sinar (RSTI) and as he believes the acquisition will still be "solidly" accretive on a non-GAAP basis. The analyst expects Coherent's near-term prospects to continue to be driven by the conversion of its sizable multi-year OLED-related backlog. Longer term, Ricchiuti believes the addition of Rofin will provide greater balance to the company by opening up the material processing market as a much larger vertical and giving it meaningful exposure to fiber lasers. He reiterates a Buy rating on Coherent's shares.