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Biotech / Medical : Coherent (COHR) : Anyone else holding?
COHR 154.52-3.0%Nov 7 9:30 AM EST
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To: Khris Vogel who wrote (413)1/21/1998 1:24:00 PM
From: Doug  Read Replies (2) of 788
 
The P/E of a stock is determined by the Market. The fact that the P/E for COHR is low vis a vis the high techs,indicates that it is treated by the Market as a Conservative Investment relative to other high techs. The market does not perceive the Company to be sufficiently aggressive in allocating its available resources and line of credits to improve its revenue and income growth percentages.

I would be interested to know if there are any other reasons for the
low P/E that COHR has had.

COHR claims to be a leader but over the years, it has lost market share. A great Company never looses market share especially when it has the means to defend its turf. Thats why Gillete, Intel and CocoCola command lofty P/e's. They continously and aggresively innovate to ensure there is no intrusion into their markets. Whilst others may place COHR in the same category, I am not willing to do so. The evidence is in the P/E and the number of new Laser Companies that were started up in last few years.
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