IPG Photonics initiated with a Buy at Seaport Research

Seaport Research initiated coverage of IPG Photonics with a Buy rating and $125 price target. IPG has been mired in a period of earnings weakness since 2019, but the firm sees pressures that included COVID, supply chain, weak pricing, elevated costs in Russia and sluggishness in the General Industrial markets as “increasingly moving behind” the company, the analyst tells investors.