Citi analyst Jamie Wang double upgraded IPG Photonics (IPGP) to Buy from Sell with a price target of $105, up from $68, following the Q3 report. The firm sees the company’s business recovery in Q3 continuing due to improving demand for welding and micromachining. IPG posted positive revenue growth year-over-year after 12 consecutive quarterly declines, the analyst tells investors in a research note.
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