D.A. Davidson maintained its IPG Photonics IPGP Buy rating and $65 price target in a research report published today.
In the report, D.A. Davidson stated, "Recent weakness in Manufacturing PMI numbers in the U.S., China (HSBC
index) and the Eurozone have been a concern for investors as manufacturing activity is the key business driver for IPGP. We point out that despite macroeconomic concerns, commentary from IPGP management has remained unchanged throughout the quarter (including during our Annual Technology Forum in New York on 5/30/12)."
Later in the report, D.A. Davidson noted, "Given our high growth expectations from fiber lasers, we believe IPGP
deserves to trade at a premium to the peer group."
Shares of IPG Photonics closed Tuesday at $45.30, up 4.89% from Monday's market close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in