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Fly News Breaks for February 8, 2018
COHR
Feb 8, 2018 | 10:07 EDT
Stifel analyst Patrick Newton recommends using today's post-earnings pullback in shares of Coherent as a buying opportunity. The "imperfect" guidance, impacted by currency headwinds and one LineBeam 1000 delivery shifting into the June quarter, will weigh on shares, Newton tells investors in a research note. Despite moderating his estimates, the analyst found management commentary to be bullish on OLED trends. Newton lowered his price target for Coherent shares to $310 from $330 and maintains a Buy rating on the name.
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