Seaport Research analyst Scott Graham lowered the firm’s price target on IPG Photonics to $112 from $125 and keeps a Buy rating on the shares. The firm views the company’s Q4 report as disappointing but says that after a weak first half of 2024, it is still expecting sales and margins to rise. The general industrial markets in the U.S. and Europe are expected to improve which should reinvigorate trade-ups to lasers from conventional tools, the analyst tells investors in a research note.
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Read More on IPGP:
- IPG Photonics price target lowered to $115 from $130 at Stifel
- IPG Photonics price target lowered to $116 from $127 at Benchmark
- Correction: Interpublic Group did not issue Q1 guidance this morning
- IPG Photonics sees Q1 EPS 30c-60c, consensus $1.01
- Correct: IPG Photonics sees Q1 EPS 30c-60c, consensus $1.01
