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Fly News Breaks for October 30, 2019
IPGP
Oct 30, 2019 | 09:28 EDT
DA Davidson analyst Thomas Diffely lowered his price target on IPG Photonics to $150 after its Q3 earnings miss and its below-consensus guidance for Q4. The analyst notes that Q3 marked the 5th consecutive quarter of annualized revenue decline as China-led global industrial market for high-power lasers looks "extremely soft". Diffely still keeps his Buy rating on IPG Photonics with a bullish view on its long term prospects as well as the fiber laser market.
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