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Fly News Breaks for January 29, 2020
IPGP
Jan 29, 2020 | 05:03 EDT
Stifel analyst John Marchetti downgraded IPG Photonics to Hold from Buy with a price target of $151, down from $181, after taking over coverage of the name. The analyst expects the company's core markets for fiber lasers to remain under pressure in 2020, leading to another year of "sub-optimal growth" following a 2019 that was negatively impacted by challenging geographic and macroeconomic fundamentals. Upside to current estimates is limited in the near-term, Marchetti tells investors in a research note. He sees an uncertain growth outlook for IPG.
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