BofA raises Coherent’s price target to $400 citing a $1.7T AI data center TAM by 2030, while TD Cowen sets $395 target.
Bank of America increased its price target for Coherent Corp. (NYSE:COHR) to $400 from $365, maintaining a Neutral rating. The firm raised its 2030 AI data center systems total addressable market estimate to $1.7T from $1.4T, citing accelerating AI-related sales in 2026 and improving token economics in 2027.
TD Cowen also lifted its price target to $395 from $340, keeping a Buy rating. The firm noted Coherent’s in-line Q3 results but highlighted management’s confidence in a 6-inch production ramp, expecting a revenue inflection in datacenter and communications for fiscal 2027.
Coherent reported Q3 EPS of $1.41, beating estimates of $1.39, while revenue reached $1.81B, above the $1.78B consensus. CEO Jim Anderson attributed growth to strong demand in datacenter and communications.