10 AI Stocks on Wall Street’s Radar

8. Coherent Corp. (NYSE:COHR)

Number of Hedge Fund Holders: 61

Coherent Corp. (NYSE:COHR) is one of the 10 AI Stocks On Wall Street’s Radar. On August 14, Morgan Stanley lowered the firm’s price target on the stock to $89 from $97 and kept an Equal Weight rating on the shares.

According to the analysts, Q4 EPS was better than Street estimates. However, Coherent’s results and outlook were “underwhelming.” This is particularly true considering how the stock jumped 20% the last month and elevated expectations based on other AI-related prints.

 Morgan Stanley believes that the stock is likely “to remain in the penalty box for now.”

Coherent Corp. (NYSE:COHR) is an American manufacturer of optical materials and semiconductors.