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II-VI +3.5% as Stifel starts at Buy on double-digit growth prospects

Oct. 07, 2020 9:29 AM ETCoherent Corp. (COHR) StockCOHRBy: Jason Aycock, SA News Editor
  • II-VI (NASDAQ:IIVI) is up 3.5% premarket after an initiation at Buy at Stifel, with an eye to long-term growth.
  • Stifel's John Marchetti is expecting double-digit growth in earnings over the coming two fiscal years, and says it's a "key supplier across many next-gen technology architectures."
  • Scale will help it grow share in the core optical communications market, he says; industry consolidation has "reduced the number of competitors with the ability to match II-VI's capabilities."
  • He's set a $50 price target, implying 18% upside.

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