Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Needham Raises Coherent Opinion

Coherent (COHR) shares climbed Thursday after Needham upped its investment recommendation on the electronic equipment manufacturer to strong buy from buy.

Analyst John Harmon cited attractive prices in the stock. After Coherent's third quarter earnings per share report, prices experienced a recent pull-back that moved shares' valuation to extremely attractive levels, says Harmon. Although the third quarter was disappointing due to the late shipment of complex products, it's a one-time issue and not due to the loss of market share, Harmon says. He notes that the company has a strong record of recovering from such fluctuations and also dominates the laser industry in terms of size, product breadth, balance sheet, and cash generation. Harmon also thinks company management has set a strong record of execution. He set a $38 price target based on 25 times his $1.54 calendar year 2006 earnings per share estimate.

blog comments powered by Disqus