Coherent Corp. (NYSE:COHR) saw its stock surge 5.53% in pre-market trading on Wednesday, as investors eagerly await the company's fourth-quarter earnings report scheduled for release after the closing bell. The significant uptick in share price reflects growing optimism surrounding the company's financial performance and recent developments.

Analysts are projecting a robust quarter for Coherent, with expectations of earnings per share at 92 cents, up from 61 cents in the same period last year. Revenue is anticipated to climb to $1.51 billion, compared to $1.31 billion a year earlier. The positive outlook is further bolstered by Coherent's recent announcement of a multi-year deal with Apple to supply Face ID laser technology for iPhones and iPads, signaling strong growth potential in its consumer electronics segment.

The pre-market rally also follows a series of encouraging analyst reports. Several prominent firms, including Morgan Stanley, Susquehanna, JP Morgan, Wolfe Research, and Citigroup, have recently reiterated positive ratings on Coherent's stock, with many raising their price targets. These upgrades reflect growing confidence in the company's strategic direction and market position. As investors await the official earnings release, the stock's pre-market performance suggests high expectations for Coherent's financial results and future outlook.