On August 14, Coherent rose 3.18% in regular trading, trading at 337.66 USD/share, with turnover of approximately $605 million. The rally was driven by a wave of price target upgrades from major Wall Street institutions following the company's robust fiscal Q4 earnings.

Multiple analysts raised their price targets in quick succession: JPMorgan lifted its target to $435, Needham to $420, Jefferies from $375 to $420, and Morgan Stanley from $330 to $375. The upgrades followed Coherent's fiscal Q4 results, which showed revenue of $2.05 billion, up 34% year-over-year and approximately 3% above consensus, while adjusted EPS of $1.74 surged 74% year-over-year, beating estimates by over 7%. The company's fiscal Q1 guidance was equally impressive, with midpoint revenue of approximately $2.3 billion and adjusted EPS of approximately $1.95, exceeding market expectations by roughly 7% and 10% respectively. Management noted that data center demand remains exceptionally strong and expects to surpass $3 billion in quarterly revenue before the end of fiscal 2027.

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