Raymond James analyst Simon Leopold upgraded II-VI Inc (NASDAQ: IIVI) to Outperform from Market Perform with a price target of $77. The price target implies a 12.7% upside.

• Leopold sees significant growth led by hyper-scale builders investing in 400G, 200G, and 100G optical transceivers.

• Related Content: Read Why Morgan Stanley Sees 26% Upside In II-VI, II-VI Reports Mixed Q1 Results, Sees Q2 Revenue Below Consensus

• Leopold sees the Coherent Inc (NASDAQ: COHR) deal closing in the first half of 2022.

• II-VI is a global leader in engineered materials and optoelectronic components. It is a vertically integrated manufacturing company that develops innovative products for diversified applications in communications, industrial, aerospace & defense, semiconductor capital equipment, life sciences, consumer electronics, and automotive markets.

• Price Action: IIVI shares traded higher by 2.44% at $70 in the premarket session on the last check Monday.

Latest Ratings for IIVI

View More Analyst Ratings for IIVI
View the Latest Analyst Ratings

See more from Benzinga

• Read Why JPMorgan Bumped Up Tesla Price Target By 18%

• Chip Sales Set To Grow Nearly 10% In 2022: Report

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.