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IPGP

IPG Photonics

$131.30

-3.46 (-2.57%)

08:09
10/30/18
10/30
08:09
10/30/18
08:09

IPG Photonics lowers FY18 revenue growth view to 1%-4% from 7%-9%

  • 30

    Oct

IPGP IPG Photonics
$131.30

-3.46 (-2.57%)

10/08/18
10/08/18
DOWNGRADE

Neutral
Northcoast downgrades IPG Photonics, peers to Neutral as outlook lacks clarity
As previously reported, Northcoast analyst Tom Hayes downgraded IPG Photonics (IPGP), Coherent (COHR), and nLIGHT (LASR) to Neutral from Buy as he sees considerable headwinds remaining in place, which will likely constrain unit volume growth over the next few quarters and into 2019. While the analyst continues to expect that industrial lasers, especially fiber lasers, will become an important tool in global manufacturing, the near-term challenges and lack of visibility are moving him to the sidelines as he expects the headwinds to extend into FY19 as trade and tariff issues weigh on demand. Hayes also notes that China is a significant market for laser demand, but its outsized component of total revenue adds some risk to operations. Based on the most recently published reports, trailing 12-month revenue in China represented 43% of IPG revenue, 9% of Coherent revenue, and 39% of nLIGHT's revenue, he adds.
10/09/18
10/09/18
DOWNGRADE

Neutral
Coherent downgraded to Neutral on OLED timing, industrial malaise at Longbow
As previously reported, Longbow analyst Joe Wittine downgraded Coherent (COHR) Neutral from Buy based upon a potentially elongating OLED investment cycle. Wittine views Apple's (AAPL) iPhone XR/LCD dynamic as partially responsible for this extension. Should advanced LCD devices prove to have a longer shelf life, the investment cycle will face extensions, he contends. The analyst also cited the weakening seen in his Q3 industrial laser survey confirmed by IPG Photonics' (IPGP) Q3 preannouncement last week.
10/19/18
BOFA
10/19/18
INITIATION
Target $147
BOFA
Neutral
IPG Photonics reinstated with a Neutral at BofA/Merrill
BofA/Merrill reinstated IPG Photonics with a Neutral and $147 price target citing rising US-China trade tensions and uncertain auto outlook.
10/24/18
NRCS
10/24/18
NO CHANGE
NRCS
Neutral
Northcoast finds modest rebound in Industrial Laser sentiment in September
Northcoast analyst Tom Hayes reported that his September survey of the Industrial Laser industry showed a modest rebound in sentiment following a weak outlook in August. He has seen more mixed market commentary from China as well as Coherent (COHR) indicating that its previous revenue and margin guidance would fall short of expectations following his downgrades of the laser names he covers, noted Hayes. He maintains Neutral ratings on Coherent, IPG Photonics (IPGP) and nLight (LASR).

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CSLT

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AAPL

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PHG

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MSI

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$127.46

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, MSFT

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MSI

Motorola Solutions

$127.46

-2.24 (-1.73%)

MSFT

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NAV

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PCG

PG&E

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GNC

GNC Holdings

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UVXY

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LABD

Daily S&P Biotech Bear 3x Shares

$39.51

4.09 (11.55%)

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BCS

Barclays

$8.76

-0.39 (-4.26%)

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BSTI

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JPM

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