Movement Alert｜Coherent Rises 3.9% in Pre-Market Trading, Rebounding After 10% Pullback as Target Price Upgrade and Supply Agreement Provide Support

Market Focus07-09

On July 9, Coherent rose 3.9% in pre-market trading, trading at $329.42/share, with turnover of $1.4529 million. The stock had pulled back sharply since July 7, at one point dropping to around $304.3, with a cumulative decline exceeding 10%.

On the news front, AXT subsidiary Beijing Tongmei and Coherent signed a three-year master development and supply agreement for 6-inch indium phosphide wafers, effective June 25, with prepayments exceeding $22 million to secure critical material capacity. The agreement establishes a long-term cooperation framework covering capacity allocation and product roadmap arrangements. Additionally, Raymond James raised its target price on Coherent from $371 to $435, implying significant upside from current levels.

With no fundamental negatives emerging and multiple positive catalysts gradually being digested following the prior oversold condition, the pre-market session reflects continued sentiment recovery.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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