UPDATE: Canaccord Genuity Starts IPG Photonics (IPGP) at Hold
Get Alerts IPGP Hot Sheet
Rating Summary:
12 Buy, 9 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Canaccord Genuity initiated coverage on IPG Photonics (NASDAQ: IPGP) with a Hold rating and a price target of $85. Analyst Bobby Burleson said he would be more constructive on the stock if macro improved.
"While we expect IPG to maintain its leadership in the high growth fiber laser market, we acknowledge that macro headwinds for the broader industrial sector, combined with concerns over the company’s largest customer’s plans to develop an in house solution are likely to hold back share appreciation over the medium term. An improving macro could prompt us to get more constructive," said Burleson.
For an analyst ratings summary and ratings history on IPG Photonics click here. For more ratings news on IPG Photonics click here.
Shares of IPG Photonics closed at $82.59 yesterday.
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