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IPG Photonics Trading At 'Significant Discount' To Historical Value, Says Canaccord

IPG Photonics Trading At 'Significant Discount' To Historical Value, Says Canaccord

Canaccord Genuity provided its outlook on IPG Photonics Corporation (NASDAQ: IPGP) on Tuesday.

The company maintains its Buy rating and $90 price target on IPG shares.

"While we expect further significant revisions to estimates to be behind the company with guidance for this year having already been reduced significantly from 'teens' revenue growth to the current 5–10 percent level, IPGP stock is currently trading at a significant discount to historical valuation multiples," wrote Canaccord.

Related Link: IPG Photonics Upgraded To Buy At Canaccord; "Brexit Enhances Already Attractive Entry Point"

The analysts said the stock was trading at an EV/EBITDA multiple of 8.6x NTM consensus expectations, which compares to the two- and five-year average multiple of 9.7x estimates.

The analysts expect the revenues to stand at $242 million for 2Q16, $958.2 million for 2016 and $1.1 billion for 2017. The EPS estimates for 2Q16, 2016 and 2017 are $1.19, $4.62 and $5.23, respectively. IPG is scheduled to release the second-quarter results on July 28.

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Latest Ratings for IPGP

Nov 2020Northcoast ResearchUpgradesNeutralBuy
Nov 2020Raymond JamesDowngradesOutperformMarket Perform
Nov 2020Canaccord GenuityMaintainsHold

View More Analyst Ratings for IPGP
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