Coherent (COHR) is a top Turnaround Candidate Amid Ongoing Investments in AI Infrastructure.
The market for AI backend transceivers is expected to grow by 30% annually to $22.2 billion by 2030.
Jefferies sees a net profit of $6.40 per share possible by 2026.
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The company sees competitive advantages with the indium phosphide (InP) platform as a semiconductor material for the production of high-performance laser technologies and has already tripled its production capacity. Raymond James adjusted the price target on March 24 following NVIDIA's GTC keynote and Corning's (GLW) analyst day to $91 (Strong Buy) due to reportedly strong demand for 800G data transmission solutions. According to Jefferies, the dominance of 400G in the transceiver market is expected to persist even at 800G. Coherent was...
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