To all: Latest recommendation for COHR. jdn
Preferred Capital Markets, Inc. Reiterates Its STRONG BUY Rating ofCoherent, Inc.
SAN FRANCISCO, April 16 /PRNewswire/ -- The following is being issued by Preferred Capital Markets, Inc., a member of the National Association of Securities Dealers, CRD number 10993:
Preferred Capital Markets, Inc, a brokerage firm servicing both institutional and individual investors with a focus in technology, telecommunications and medical technology today reiterates its STRONG BUY rating of Coherent, Inc. (Nasdaq: COHR) while maintaining a 12-month price target of $20.
Lambda Physik, Coherent's German subsidiary, announced that it had received orders for several of its NovaLine Deep UV Excimer lasers from Silicon Valley Group, a leading stepper manufacturer. The orders for lasers at both the 248nm and 193nm wavelengths are to be delivered this quarter. Also, according to Palomar Medical Technologies, Star Medical, which is in the process of being acquired by Coherent, announced that its diode laser-based "Lightsheer" hair removal product has received FDA approval to advertise "permanent hair removal." Coherent and Palomar are the only companies allowed by the FDA to make the claim of "permanent hair reduction."
Analyst J.D. Abouchar originally upgraded his rating to a strong buy on January 27, 1999 on Coherent, a company that designs, manufactures and supplies electro-optical systems and medical instruments utilizing laser, precision optic and microelectronic technologies.
Currently J.D.'s coverage list also includes Cree Research, Inc. (CREE) In Focus Systems (INFS), Microsemi Corporation (MSCC) and Evans & Sutherland Corporation (ESCC) to name a few.
Preferred Capital Markets, Inc. provides proprietary research and trade execution services on an agency and principal basis for the securities and options markets. Clients include institutional investors, money managers, floor traders, and high net worth individuals. Founded in 1982, Preferred Capital Markets is headquartered in San Francisco with offices in Boston, Chicago, Miami, New York, and Philadelphia.
SOURCE Preferred Capital Markets, Inc.
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