IPG Photonics price target raised to $77.50 from $65 at BofA

BofA raised the firm’s price target on IPG Photonics (IPGP) to $77.50 from $65 and keeps an Underperform rating on the shares as part of the firm’s machinery, engineering and construction and waste 2026 outlook. Most of the analyst’s coverage saw a multiple re-rating to the “recovery valuation” phase as demand bottomed out and EPS troughed, but the next leg of outperformance requires a baton pass from multiple to EPS growth and “not everyone will participate,” the analyst tells investors.