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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (16180)	6/21/2023 9:39:51 AM
From: Kirk ©	2 Recommendations Recommended By Return to Sender Sr K Respond to of 26764

So they miss the rally from dirt cheap to well above their target so they downgrade the stock and raise their target price by 34%... I should be happy as it might help the price drop enough to repurchase some shares I recently sold. Coherent stock dips as Rosenblatt downgrades after AI-driven rally Jun. 21, 2023 8:21 AM ET By: Ravi kash, SA News Editor Rosenblatt Securities downgraded Coherent (NYSE:COHR) to Neutral from Buy and raised its price target on the shares to $55 from $41. . The firm's analysts said Coherent's stock has risen ~80% in the past one month on the thesis that AI will drive massive growth in 800G and above Datacom Optical modules, resulting in a shorter than expected inventory correction and better FY24 figures. The firm noted that investors are looking for AI beneficiaries, but it thinks that the bull thesis and stock are ahead of themselves. The analysts noted that AI Pods are currently predominately closed with most equipment, including networking, supplied by chip makers such as Nvidia (NVDA) and Marvell Technology (MRVL). The firm thinks Coherent will benefit from AI when the pods open and Ethernet is more widely deployed beginning in the second half of CY 2024. But in the near-term, the analysts are concerned about further shoes to drop in Networking — mainly due to high Telecom inventories — and Lasers due to macro and competition. COHR -5.62% to $52.20 premarket June 21 seekingalpha.com