IPG Photonics price target lowered to $115 from $130 at Stifel

Stifel analyst Ruben Roy lowered the firm’s price target on IPG Photonics to $115 from $130 and keeps a Buy rating on the shares. IPG reported Q4 revenue at the higher end of its guidance range, but provided a significantly weaker near-term outlook, the analyst tells investors. However, the firm’s “high-level takeaway” from results, the outlook and management commentary is that “the fundamental drivers behind our positive thesis on IPGP shares remain unchanged,” the analyst added.