Coherent (COHR) : Anyone else holding? Message Board

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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: Doug who wrote (414)	1/21/1998 5:22:00 PM
From: Andrew	Read Replies (1) of 788

Doug, not that I put much weight on P/E ratios, but since you pointed it out, Intel and Cohrent have virtually IDENTICAL P/E ratios. If INTC's 19.7 is "lofty", while COHR's 19.5 is "low"... Anyway, I know what you're saying. You dislike seeing free cash flow, it should all be invested for growth. I think they do invest it for growth, but your impression that the "market" disagrees with me is probably true. That's how I plan on making money long term with COHR. Your statement that COHR "has lost market share", evidenced by a low P/E and a bunch of new Laser Companies, seems a little off-the-cuff though. Are you suggesting that COHR is growing significantly slower than it's core market? I see a company with a strong position in a high margin business, rapidly expanding into other related high-margin businesses. It brings in more money than it needs to pay the bills, and uses it's free cash flow from time to time to fund this expansion. To top it off, you can buy a piece of it for a very reasonable price. Sounds like a good, solid long term investment to me! Andrew

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