Brean Murray Starts IPG Photonics (IPGP) at Buy
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Brean Murray initiates covearge on IPG Photonics Corporation (Nasdaq: IPGP) with a Buy rating.
The firm said, "We believe IPG presents a highly attractive and unique set of attributes to investors, which include being the vertically integrated, world leader in a high-growth industry with a diverse customer and application base in an industry segment characterized by limited competition."
Brean Murray said strong sales and income growth is expected. Revenues are projected to grow to $293 million next year from $93 million in 2005, while EPS is expected to grow to $1.09 from $0.16 over the same period.
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