Fly News Breaks for November 6, 2019
Nov 6, 2019 | 07:03 EDT
Benchmark analyst Mark Miller said Coherent reported "mixed" Q4 results and gave Q1 sales guidance that was well below expectations and he lowered his FY20 forecast "significantly" following the report. However, he believes the microelectronics and materials processing segments are expected to recover and grow stronger in 2021, leading him to project EPS can grow to $8.96 in FY21. He keeps a Buy rating on Coherent shares and raised his price target on the stock to $182 from $175.
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