SAN FRANCISCO, Jan. 28 /PRNewswire-FirstCall/ -- Hoefer and Arnett
technology analyst, Mark Miller, has upgraded Coherent from a hold to a buy.
Strength in the microelectronics area plus previous cost cutting efforts have
helped produce a rapid turnaround for Coherent. Despite a high tax rate, we
believe just modest mid-single digit revenue growth next year could produce
earnings in the $1.15 to $1.25 range for Coherent. As such, we now rate
Coherent a buy with a $32 one-year price target.
Hoefer & Arnett Incorporated is a member of the National Association of
Securities Dealers, CRD number 10883.
SOURCE Hoefer & Arnett
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CONTACT:
Mark Miller, Analyst,
mark.m@hoeferarnett.com, or Sharlena Gordon, Research
Coordinator, sharlena.g@hoeferarnett.com, both of Hoefer and
Arnett, +1-415-362-7111
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