Coherent (COHR) : Anyone else holding? Message Board

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Biotech / Medical : Coherent (COHR) : Anyone else holding?

COHR 139.93

-10.7%

3:59 PM EST

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To: Jurgis Bekepuris who wrote (106)	6/21/1997 11:02:00 PM
From: Thomas J Pittman	of 788

Long message. Friday I got a call from my broker (good guy, doesn't often try to lead me astray -- just sort of gives me information on an FYI basis). He asked if I had heard of Coherent. I told him of my recent interest and he sent me some info. He is with ML/Dean Witter. Here are some of the highlights. There are now four analysts following the firm (I don't know who they are, but this is a change from just 4 months ago). Two are national firms, one is regional, and one is a 'non-broker'. Average Qualitative Opinion is 1.5 on a scale running from -2.0 to 2.0 with 2.0 being buy. S&P rating is 5 stars. 97 consensus estimates are 3.10 with high of 3.20 and low of 3.00. Figures for 98 are 3.60, 3.65 and 3.55. There is a neat graph showing the estimated annual earnings over time which shows that the estimates have trended up over the past 2 years but have consistently been under the actual number (for example, on the chart it shows that 1996 earnings began at about 2.05 early that year but were revised up as the year went on but never did hit the actual reported number of 2.63). There is also an 'industry' outlook in which a 'broad strengthening of demand' is mentioned although companies with a strong exposure to the semiconductor industry are the subject of caution. I can deduce from reading the summary that two of the institutions following COHR are S&P and HJ Meyers. Price target for HJM is $65 for 12months ending this calendar year. I am starting to like this one. Just finished re-re-rereading the S&P commentary, the Value Line stuff, the Better Investing article (NAIC publication from January 97) and surfing from site to site. This one looks like a go to me. I will finish by Stock Selection Guide and come up with some risk/reward and buy/sell ranges and try to decide sometime soon. Thanks for the info you have all provided. J

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