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Fly News Breaks for June 12, 2017
COHR
Jun 12, 2017 | 07:50 EDT
Longbow analyst Joe Wittine reinstated Coherent with a Buy and a $325 price target saying the OLED fab build-out is in the early stages and can support near-term and long-term earnings surprises. The analyst said Coherent's excimer systems capacity is booked through mid-CY19, supporting 80% of global smartphones adopting OLED in the coming years. Wittine sees further upside from panel manufacturer competition, increasing smartphone screen sizes, and potential multiplier effect from adding screen counts in foldable designs.
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