IPG Photonics price target raised to $110 from $105 at Roth Capital

Roth Capital raised the firm’s price target on IPG Photonics (IPGP) to $110 from $105 and keeps a Buy rating on the shares. The firm is constructive on IPG Photonics shares as it sees continued stabilization across manufacturing industries and believes that key product initiatives in areas such as automation, material cleaning, medical, and directed energy are outpacing traditional metal cutting and welding applications, the analyst tells investors in a research note.