- 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.