Needham & Company Maintains a 'Hold' on IPG Photonics (IPGP); One Overhang Removed But Macro Picture Remains A Concern
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Price: $85.79 +2.20%
Rating Summary:
13 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on IPG Photonics (NASDAQ: IPGP).
Needham analyst says, "With a Michigan jury concluding in an expeditious manner yesterday that IPGP did not infringe on a patent held by IMRA in a suit that before coming to trial last week had dragged on for 5 years, one of the two major overhangs in the stock has been effectively removed. While the court victory is likely to give a lift to IPGP shares today, an economic cloud continues to hover over IPG and many of the other industrial tech stocks in our universe. We are assuming a sharp deceleration in growth next year, although we would not rule out further downward revisions to Street estimates in the current environment. We maintain our ating and would look to become more constructive on the stock on a pullback."
"We continue to estimate Q3 EPS at $0.65 vs. guidance of $0.56-$0.68, with sequentially flat EPS in the seasonally strong Q4. We are maintaining our 2012 EPS estimate at $2.78."
For more ratings news on IPG Photonics click here and for the rating history of IPG Photonics click here.
Shares of IPG Photonics closed at $47.76 yesterday.
Needham analyst says, "With a Michigan jury concluding in an expeditious manner yesterday that IPGP did not infringe on a patent held by IMRA in a suit that before coming to trial last week had dragged on for 5 years, one of the two major overhangs in the stock has been effectively removed. While the court victory is likely to give a lift to IPGP shares today, an economic cloud continues to hover over IPG and many of the other industrial tech stocks in our universe. We are assuming a sharp deceleration in growth next year, although we would not rule out further downward revisions to Street estimates in the current environment. We maintain our ating and would look to become more constructive on the stock on a pullback."
"We continue to estimate Q3 EPS at $0.65 vs. guidance of $0.56-$0.68, with sequentially flat EPS in the seasonally strong Q4. We are maintaining our 2012 EPS estimate at $2.78."
For more ratings news on IPG Photonics click here and for the rating history of IPG Photonics click here.
Shares of IPG Photonics closed at $47.76 yesterday.
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