Fly News Breaks for January 24, 2018
IPGP
Jan 24, 2018 | 09:07 EDT
Needham analyst James Ricchiuti raised his price target on IPG Photonics to $280 from $230 after meeting with the company's management at the 20th Annual Needham Growth Conference. The analyst says the "favorable tailwinds driving the company's business remain in place in 2018, particularly with the synchronized global economic expansion under way in the U.S., Europe and Asia". Ricchiuti maintains that China is IPG Photonics' primary growth engine, as revenues in the region rose over 80% through the first 9 months of 2017.
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