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Fly News Breaks for March 13, 2017
COHR
Mar 13, 2017 | 09:00 EDT
Needham analyst James Ricchiuti raised his price target for Coherent to $215 from $205 as he believes there is the potential for the company's display business to provide upside both from stronger equipment sales as well as a more rapid ramp in the service portion of the business. The analyst has become more optimistic about upside opportunities in the materials processing market, benefiting from what he expects will be a stronger contribution from the recently acquired Rofin business. He reiterates a Buy rating on the shares.
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