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Fly News Breaks for August 1, 2018
COHR
Aug 1, 2018 | 09:34 EDT
Needham analyst James Ricchiuti lowered his price target on Coherent to $190 and kept his Buy rating, saying the investors' concerns around Q3 outlook around the company's OLED business materialized. The analyst is lowering his FY18 EPS view to $13.80 from $14.34, but believes that the added transparency on the "revenue bridge" in FY19 should help investor confidence. Ricchiuti contends that while the sentiment around commercial lasers has been very negative lately, industry fundamentals generally remain solid, which "will become more apparent over the next several months."
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