15 AI News Updates You Might Have Missed

12. Coherent Corp. (NYSE:COHR)

Market Capitalization: $16 Billion

Coherent Corp. (NYSE:COHR) develops, manufactures, and markets engineered materials, optoelectronic components, and devices worldwide. The firm has emerged as an important player in the AI space, marketing 800G transceivers that read and write data at a speed of 800 gigabytes per second. On November 18, Citi analyst Papa Sylla raised the price target on the stock to $136 from $106 and kept a Buy rating on the shares following a transfer of analysts. The advisory says that with its continued artificial intelligence sales and new management’s focus on margin expansion and debt reduction, it expects Coherent to move to the next phase of its journey, resulting in a 40% non-GAAP gross margin company with a $5 earnings per share power by fiscal 2026. It believes the Street is still underestimating Coherent’s AI sales and its new management ability to quickly deliver on its goals.