20 Trending AI Stocks on Latest News and Ratings

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15. Coherent Corp. (NYSE:COHR)

Number of Hedge Fund Holders: 47

Coherent Corp. (NYSE:COHR) is an American manufacturer of optical materials and semiconductors. Analysts are particularly interested in this stock because of its potential for growth driven by artificial intelligence (AI) initiatives.

On October 14, Needham analyst James Ricchiuti raised the price target for Coherent Corp. (NYSE:COHR) to $120, up from $84. The firm maintained a “Buy” rating on the stock after analysts see potential for growth driven by artificial intelligence initiatives and also leadership changes.

Needham sees COHR continue to run higher on the back of the company’s AI transceiver business. Moreover, it’s improving outlook for the OLED/semi-cap business, balance sheet de-levering from lower rates as well as proceeds from possible divestitures as new CEO Jim Anderson and newly united CFO Sherri Luther begin executing on the plan also make a strong case for the stock, as per analysts.

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