Coherent's AI Tech Boosts Stock, Analysts Raise Price Target
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Coherents stock surged 7.2% in afternoon trading after being added to the S&P 500 index and gaining traction in AI tech. Funds bought heavily, and the companys silicon photonics gear reached 400 gigabits per second for data centers. Analysts at Stifel raised their price target to $275, maintaining a buy rating after Coherents AI network innovations presentation at the O F C conference. The stock is up 30.5% YTD, still 15.1% below its 52-week high, but a $1,000 investment 5 years ago would now be worth $3,553.
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