Piper Sandler analyst Troy Jensen reiterated a Neutral rating on IPG Photonics and cut his price target on the shares to $150 from $155 after the company reported Q4 results. Jensen said that the top line Q4 results were "strong," though large impairment charges on goodwill and other long-lived assets dragged down operating margin and earnings per share resulting in a bottom line miss. The analyst noted that volatility surrounding the coronavirus played a role in the company's guidance. Jensen added that he continues to view IPG Photonics as the undisputed leader in the fiber laser market, though he still believes the company is trading at a fair valuation and believes it will continue to face "significant" competitive pressures that may result in margin compression.