B Riley Lowers COHR Price Target to $77 Amid Optical Sector Multiple Contraction
The reduced target reflects the multiple contraction of the optical group in recent months, the analyst tells investors in a research note. The advisory also remains concerned about the upcoming co-packaged optic headwind.
A row of precision industrial lasers in action, cutting the most intricate of shapes.
While releasing third fiscal quarter earnings, management guided Q4 revenue between $1.425 billion and $1.575 billion, with a non-GAAP gross margin range of 37% to 39% and operating expenses between $290 million and $310 million. Non-GAAP EPS is expected to be between $0.81 and $1.01. The management also noted a cautious near-term view of industrial end markets while projecting strong growth in data center and telecom sectors to continue.
While we acknowledge the potential of COHR, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than COHR and that has 100x upside potential, check out our report about this cheapest AI stock.
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