IPG Photonics price target raised to $86 from $70 at Raymond James

Raymond James raised the firm’s price target on IPG Photonics (IPGP) to $86 from $70 and keeps a Strong Buy rating on the shares. IPG Photonics reported its first quarter of year over year growth since 2022 and appears poised to benefit from improving end markets and vertical market broadening, the analyst tells investors in a research note. The firm believes business trends are improving and that the guide has ample conservatism or cushion.