Analysts Lift Targets on COHR and HOOD; KLAC Gets Cut

Analyst desks were busy Wednesday, with target price upgrades dominating the tape and one notable downgrade standing out in semiconductors.

Coherent Corp. drew the most attention. The photonics and optical connectivity firm saw its consensus target price rise to $400.95, up from $394.62. The stock carries a $64 billion market cap and short interest sits at just 5.3% of free float — bears are not pressing hard here.

Robinhood Markets also got a lift. Its consensus target moved to $120.01, as analysts track the brokerage's expansion into new financial products. At a $74.6 billion market cap, the stock has come a long way from its meme-era lows.

KLA Corporation was the session's standout downgrade. Analysts cut KLAC from Hold to Sell, with the consensus target settling at $231.78. The semiconductor equipment giant holds a $262 billion market cap. Short interest remains minimal at 2.1% of free float.

Eli Lilly continued receiving target bumps, with the consensus now at $1,309. Analysts remain broadly bullish on the GLP-1 drug leader.

Cisco Systems saw a recommendation removed from the consensus pool, nudging the average target slightly higher to $134.68.