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Fly News Breaks for August 1, 2018
IPGP
Aug 1, 2018 | 08:56 EDT
Needham analyst James Ricchiuti lowered his price target on IPG Photonics to $215 after its "rare" earnings miss and "much weaker" guidance, driven by more cautious outlook in China and Europe related to the macro/geopolitical concerns. The analyst also keeps his Buy rating on the company as its book-to-bill ratio remains above parity, adding that the stock price selloff is likely overdone.
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