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Fly News Breaks for December 16, 2019
Dec 16, 2019 | 07:30 EDT
Susquehanna analyst Mehdi Hosseini upgraded Coherent to Positive from Neutral with a price target of $200, up from $130. Though he is reducing his near-term estimates, Hosseini believes the overall fundamentals for Coherent are "beginning to bottom" and he now expects OLED bookings to rebound by mid-2020 while the Fiber Laser segment is "not getting worse," the analyst tells investors. The CEO change at Coherent remains a "wild card," but with Fiber Laser bottoming, Hosseini said he believes the change will only lead to an improving margin profile.
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