TD Cowen Cuts Coherent (COHR) Price Target to $275
Key Points
- TD Cowen maintained its Buy rating on Coherent Corp. on October 19, 2026, while shifting its price target down to $275.00 from $395.00.
- TD Cowen's $275 price target implies 18.54% upside from Coherent Corp.'s ($COHR) current $231.98 share price.
- Coherent Corp. recently traded near $231.98, below its 50-day moving average of $296.91 and its 200-day moving average of $294.75.
- Four insiders executed stock sales totaling over 20,000 shares between September 1 and September 11, 2026.
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TD Cowen maintained its Buy rating on Coherent Corp. (NYSE:COHR) while adjusting its price target from $395.00 to $275.00 on October 19, 2026. The research note outlines the firm's forward-looking perspective on the optical and optoelectronic device maker following recent developments across the technology sector.
COHR
Coherent Corp.
TD Cowen vs. the S&P 500
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TD Cowen's Call on Coherent Corp.
In its October 19, 2026 research note, TD Cowen kept a Buy rating on Coherent Corp. while lowering the target price to $275.00 from $395.00. The updated target aligns with the firm's current evaluation of the scientific and technical instrument maker's market position.
Other Institutional Activity in Coherent Corp.
Other major institutional investors adjusted their holdings in Coherent Corp. recently. Capital International Investors doubled its stake by adding 1,800,280 shares to reach a total of 3,600,561 shares valued at approximately $835,402,178. Nvidia Corp held steady with 7,788,161 shares worth about $1,807,009,148. Meanwhile, ARS Wealth Advisors Group initiated a new position by acquiring 2,141 shares valued at roughly $616,201.
Coherent Corp. Stock Down 0.4%
Coherent Corp. shares closed at $232.02 on October 19, 2026, and recently traded at $231.98 as of October 20, 2026. The stock trades below its 50-day moving average of $296.91 and its 200-day moving average of $294.75. The company carries a market capitalization of $45.69 billion and a trailing price-to-earnings ratio of 56.32.
$COHR price target
Coherent Corp. daily closes and this analyst's $275 target. Not advice.
Recent Earnings
Coherent Corp. reported trailing twelve-month revenue of $7.12 billion with earnings of $4.12 per share. The company posted a net profit margin of 11.3% alongside year-over-year revenue growth of 33.7%. Its next earnings report is scheduled for November 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 analysts raised price targets.
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EPS & revenue
EPS missed estimates by 1.1%. Revenue missed estimates by 0.5%.
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Profit surprise
EBITDA missed by 59 percent. Operating income missed by 63 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
3 target raises.
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Earnings quality
Gross margin up 2.4 points. Operating margin down 1.5 points. Positive free cash flow.
Earnings Call Summary
Coherent reported $1.81 billion in revenue for the first quarter, up 19 percent year over year on a pro forma basis. The company is experiencing record orders and exceptionally strong demand across its datacenter and communications businesses, driven by AI data center expansion and optical networking adoption. Management is aggressively ramping indium phosphide laser production capacity at two sites and expects to double capacity over the next year, with six-inch production yields exceeding three-inch lines.
Guidance Management expects second quarter revenue between $1.56 billion and $1.7 billion, with datacom growing 10 percent sequentially from supply improvement. Gross margin is projected between 38 and 40 percent, and EPS between $1.10 and $1.30 per share.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend
Coherent Corp. currently maintains a dividend payout ratio of 0.0% and yields 0.0%.
Insider Buying and Selling at Coherent Corp.
Insiders completed several transactions ahead of the analyst update. Chief Technology Officer Julie Sheridan Eng disposed of 13,077 shares valued at $3,583,081 on September 1, 2026. Director Lisa Neal-Graves sold 2,200 shares at $268.42 apiece for a total of $590,524 on September 2, 2026. Officer Robert P Beard parted with 500 shares at $309.32 each, totaling $154,660 on September 9, 2026. Finally, Director Enrico Digirolomo sold 5,315 shares at $305.98 per share, worth $1,626,310, on September 11, 2026.
Analysts Set New Price Targets
Wall Street firms actively updated their views on Coherent Corp. ahead of TD Cowen's note. Rosenblatt maintained its Buy rating and $500.00 price target on September 24, 2026, and reiterated the stance on October 13, 2026. Bernstein initiated coverage with an Outperform rating and a $350.00 target on September 30, 2026. B. Riley Securities maintained a Neutral rating while reducing its target from $345.00 to $297.00 on October 15, 2026. Overall, the stock holds a consensus Buy recommendation among 23 analysts, with a mean price target of $405.22.
About Coherent Corp.
Coherent Corp. develops, manufactures, and markets lasers, transceivers, and advanced optical and optoelectronic components and systems for industrial, communications, and electronics customers worldwide. Headquartered in Saxonburg, Pennsylvania, the company employs over 51,000 people and serves markets ranging from silicon photonics to high-speed optical communications networks.
Bottom Line
Investors will look toward Coherent Corp.'s upcoming earnings release on November 4, 2026, for further updates on financial performance and operational guidance.
Related Filing Alerts
Source: TD Cowen's rating change on $COHR (Oct 19, 2026). Written by software, not financial advice. How we make alerts