 Morgan Stanley analyst Meta Marshall upgraded II-VI, Inc NASDAQ:IIVI from Equal-weight to Overweight with a price target of 82, up from 80, implying 26.4 upside. Marshall believes that the pullback in valuation over the last year down 12 YTD and 26 since initial COHR announcement and current multiple 17-18x CY23 PE is too pessimistic around Coherent Inc NASDAQ: COHR transaction risks and recent 3D sensing results. 