Coherent Corp. (COHR) delivered a strong performance in its fourth quarter, exceeding analyst expectations on both earnings per share and revenue. The company reported earnings of 61 cents per share, surpassing the consensus estimate of 60 cents. Revenue came in at $1.314 billion, exceeding the anticipated $1.276 billion.
Jim Anderson, Coherent’s CEO, expressed his enthusiasm for the company’s future prospects. He highlighted Coherent’s innovative nature and numerous secular growth opportunities. While acknowledging areas for improvement, Anderson emphasized his commitment to unlocking the company’s full potential and driving strong shareholder value creation.
Coherent provided a positive outlook for the first quarter of fiscal year 2025, forecasting non-GAAP earnings of 53 to 69 cents per share and revenue between $1.27 billion and $1.35 billion. This optimistic forecast contributed to a 6.4% increase in Coherent’s share price, closing at $71.28 on Thursday.
Following the earnings announcement, several analysts revised their price targets for Coherent. Vivek Arya of B of A Securities maintained his Buy rating and raised the price target from $75 to $90. James Ricchiuti of Needham also maintained his Buy rating and increased the price target from $72 to $84.
The strong earnings report and positive outlook have solidified Coherent’s position as a company with significant growth potential in the technology sector. Investors are clearly optimistic about the company’s future, as evidenced by the stock’s upward movement.
