BofA lowered the firm’s price target on IPG Photonics (IPGP) to $64 from $78 and keeps an Underperform rating on the shares. Q4 results were broadly in line with expectations, but the stock fell on weak Q1 guidance and some commentary on the competitive dynamic, the analyst tells investors. A continued weak demand backdrop, on top of some rising competitive pressures as low-cost Chinese suppliers enter marketplaces likely weighed on the outlook, the analyst contends.
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Read More on IPGP:
- IPG Photonics price target lowered to $85 from $100 at Stifel
- IPG Photonics: Navigating Market Challenges Amidst Declining Sales and Order Backlog
- Sell Recommendation for IPG Photonics Amidst Weak Demand and Intensifying Competition
- IPG Photonics Reports Fourth Quarter 2024 Financial Results
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