Why Coherent's Shares Rose 10% Last Month
Shares of Coherent (NASDAQ: COHR) gained 10.3% in December 2019, according to data from S&P Global Market Intelligence. The maker of industrial lasers and related systems inspired a bullish analyst report near the middle of the month, which sent share prices soaring.
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Analyst firm Susquehanna upgraded Coherent from neutral to positive, lifting its price target from $130 to $200 per share. Analyst Mehdi Hosseini reminded investors that the firm had downgraded Coherent in April due to "deteriorating OLED-related bookings and uncertain Fiber Laser prospects." Those concerns had largely evaporated in December, as the analyst expects organic light-emitting diode (OLED) bookings to bounce back in 2020 and fiber laser sales should at least not get any worse at this point.
Source Fool.com
