5 Best Photonics Stocks to Buy Now

2. Coherent Corp. (NYSE:COHR)

On May 5, 2026, Stifel boosted its price objective for Coherent Corp. (NYSE:COHR) to $412 from $275. It retained a Buy rating on the shares. It referenced the firm’s forecast that upcoming quarterly reports from Coherent, Lumentum Holdings, and Ciena Corporation would maintain momentum in the optical networking space. Stifel informed investors that it was raising estimates and target prices ahead of the firm’s fiscal third-quarter release.

Separately, on April 9, Coherent Corp. (NYSE:COHR) disclosed developments in silicon carbide epitaxy capabilities, which support power devices up to 10kV for AI datacenter and industrial applications. The company claims that its 150mm and 200mm thick epitaxy platforms enable more effective, high-power-density systems for renewable energy, rail, grid infrastructure, and AI datacenters.

Gary Ruland, senior vice president of Silicon Carbide LLC at Coherent Corp. (NYSE:COHR), said that next-generation datacenter power architectures and industrial systems were driving silicon carbide adoption. He further stated that the corporation’s thick epitaxy capability would help customers improve efficiency and power density in applications such as AI datacenter power distribution and uninterruptible power supplies.

Coherent Corp. (NYSE:COHR) produces, refines, manufactures, and markets engineered materials, optoelectronic components and devices, and lasers for the industrial, communications, electronics, and instrumentation markets. It works through networking, materials, and laser areas.