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Fly News Breaks for May 2, 2018
COHR
May 2, 2018 | 09:22 EDT
Needham analyst James Ricchiuti lowered his price target on Coherent to $250 after its Q1 miss, but does not believe the stock justifies its negative sentiment. Ricchiuti keeps his Buy rating on Coherent in spite of its 33% year-to-date stock price decline, saying the company's OLED display business has solid visibility with backlog extending into FY19.
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