JPMorgan Raises Coherent (COHR) Price Target on Strong Growth Outlook
Coherent Corp. (NYSE:COHR) is one of billionaire Stan Druckenmiller's top stock picks with huge upside potential. On June 12, JPMorgan maintained its Overweight rating on Coherent Corp. (NYSE:COHR) but increased its price target from $86 to $100. The upsurge is a result of JPMorgan's growing confidence in the company's ability to meet its investor day goals.
The firm modified its projections to take into consideration Coherent's anticipated trajectory of growth and profitability. In fiscal 2026 and 2027, JPMorgan now projects a 10% increase in revenue, with gross margins of roughly 39% in fiscal year 2026 and 40% in fiscal year 2027. The projected results translate into earnings per share forecasts of $4.50 in FY26 and $5.70 in FY27, which puts JPMorgan's FY27 estimates 4% higher than the consensus.
Despite finding 'multiple levers of upside' to these assumptions, the firm stated that it is making the cautious assumption that Coherent Corp. (NYSE:COHR) would meet its three to four-year targets in four years as opposed to three.
Coherent Corp. (NYSE:COHR) designs and manufactures optoelectronic components, networking solutions, engineered materials, and laser systems for the industrial, communications, electronics, and instrumentation markets.
While we acknowledge the potential of COHR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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