2024-02-07 07:30:00 ET
Summary
- Coherent's share price rose by over 17% after posting strong Q2 results and exceeding Q3 guidance.
- The company achieved enhanced operating efficiency and saw a significant increase in 800G transceiver shipments.
- Coherent has growth prospects in the silicon carbide and MicroLED markets, and its stock is recommended as a buy.
- COHR stock's negative fair value risks assessed against business tailwinds.
Last year in June, when Coherent’s ( COHR ) share price nearly doubled, skeptical investors could dismiss the noise. I rated COHR stock a sell at the time . After that, the company issued a weak outlook . Fast-forward to Feb. 6, 2024, when shares rose by over 17% after the firm posted stellar Q2 results. Shareholders also liked Coherent’s Q3/2024 guidance that exceeded consensus estimates....
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Why Coherent Stock Is A Buy Despite Rising Nearly 20%