Bank of America Securities Sticks to Its Sell Rating for IPG Photonics (IPGP)
Bank of America Securities analyst Michael Feniger maintained a Sell rating on IPG Photonics today and set a price target of $77.50.
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Feniger covers the Industrials sector, focusing on stocks such as Caterpillar, CNH Industrial, and Agco. According to TipRanks, Feniger has an average return of 11.6% and a 65.08% success rate on recommended stocks.
IPG Photonics has an analyst consensus of Moderate Buy, with a price target consensus of $93.63.
Based on IPG Photonics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $250.79 million and a net profit of $7.46 million. In comparison, last year the company earned a revenue of $233.14 million and had a GAAP net loss of $233.59 million
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