Coherent, Inc. Reports First Fiscal Quarter Results Including Record Bookings
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Needham & Company Raises Price Target Following Coherent's (COHR) Record 1Q Bookings
January 29, 2016 8:18 AM ESTNeedham & Company reiterated a Buy rating on Coherent (NASDAQ: COHR), and raised the price target to $85.00 (from $68.00), following the company's 1Q earnings report. Stronger margins resulted in non-GAAP EPS coming in at $0.99, solidly above Street expectations of $0.89. COHRs microelectronics business, which includes its Linebeam equipment for the display market, posted bookings of $187M, up 162% y/o/y and 94%... More
