These 10 Companies are in Beast Mode

8. Coherent Corp. (NYSE:COHR)

Coherent Corp. rallied by 5.77 percent on Wednesday to finish at $85.63 apiece, echoing the rally in stocks riding the Artificial Intelligence boom following technology giant Nvidia Corp.’s surge to a new all-time high.

Being one of the enablers and benchmark setters of the AI industry, Nvidia Corp.’s rally spilled over to stocks riding the AI wave, such as data centers and quantum computers, among others.

Additionally, optimism for Coherent Corp. (NYSE:COHR) was further supported by investment firm Raymond James’ “strong buy” recommendation for its stock last week, with a 5.5 percent higher price of $96 versus $91.

According to Raymond James, the bullish rating reflected its long-term growth targets that surpassed the broader market’s expectations.

In its annual shareholders’ meeting recently, Coherent Corp. (NYSE:COHR) outlined its targets, including a gross margin higher than 42 percent and an operating margin above 24 percent, indicating that by 2028, the company could achieve an EPS of around $8-9, which will be a substantial increase from forecasts of under $4 in fiscal 2025.