Needham & Company Maintains a 'Buy' on IPG Photonics (IPGP) on Continued Growth; Adjusting Estimates on Follow-On Offering
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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 'Buy' on IPG Photonics (NASDAQ: IPGP) price target of $66.00.
Analyst, James Ricchiuti, said, "We are adjusting our EPS estimate to reflect IPGP’s recent follow-on offering. Based on discussions with other industry participants we believe demand for fiber lasers in the materials processing market remains strong. Business in China thus far in the quarter looks solid, and IPGP looks well positioned for strong growth in other areas of Asia, notably Japan and Korea, as well as in the U.S. We see little change in the competitive landscape and believe IPGP will retain its formidable market position. Together with increased penetration of its fiber lasers in the market and contributions from its new QCW lasers, we believe IPGP can sustain a high-teens-20% growth rate this year and next."
"We now look for 2012 EPS of $2.73 vs our prior $2.85 estimate, with $3.27 for 2013, vs our prior $3.40 estimate. We continue to estimate revenue growth of 18% in each of the next two years, to $561M in 2012 and $661M in 2013."
For an analyst ratings summary and ratings history on IPG Photonics click here. For more ratings news on IPG Photonics click here.
Shares of IPG Photonics closed at $53.86 yesterday.
Analyst, James Ricchiuti, said, "We are adjusting our EPS estimate to reflect IPGP’s recent follow-on offering. Based on discussions with other industry participants we believe demand for fiber lasers in the materials processing market remains strong. Business in China thus far in the quarter looks solid, and IPGP looks well positioned for strong growth in other areas of Asia, notably Japan and Korea, as well as in the U.S. We see little change in the competitive landscape and believe IPGP will retain its formidable market position. Together with increased penetration of its fiber lasers in the market and contributions from its new QCW lasers, we believe IPGP can sustain a high-teens-20% growth rate this year and next."
"We now look for 2012 EPS of $2.73 vs our prior $2.85 estimate, with $3.27 for 2013, vs our prior $3.40 estimate. We continue to estimate revenue growth of 18% in each of the next two years, to $561M in 2012 and $661M in 2013."
For an analyst ratings summary and ratings history on IPG Photonics click here. For more ratings news on IPG Photonics click here.
Shares of IPG Photonics closed at $53.86 yesterday.
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