On August 17, Coherent rose 4.81% in regular trading, trading at $338.66/share, with turnover of $220 million. The rally extends gains driven by the company's better-than-expected fiscal Q4 results and a wave of Wall Street target price upgrades.

Coherent reported fiscal Q4 revenue of $2.05 billion, up 34% year-over-year and approximately 3% above consensus estimates. Adjusted EPS came in at $1.74, representing 74% year-over-year growth and beating expectations by over 7%. The company issued fiscal Q1 guidance with midpoint revenue of approximately $2.3 billion and EPS of approximately $1.95, exceeding analyst consensus by roughly 7% and 10%, respectively.

Multiple institutions raised their price targets following the results: JPMorgan to $435, Needham and Jefferies both to $420, and Morgan Stanley to $375 from $330. Analysts broadly recognized the strong growth outlook driven by AI data center demand, with data center revenue surging 24% sequentially and 1.6T product ramp progressing faster than anticipated.

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