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After Needham and Stifel Nicolaus gave IPG Photonics Corporation (NASDAQ: IPGP) a Buy rating last month, the company received another Buy, this time from Benchmark Co. Analyst Mark Miller reiterated a Buy rating on IPG Photonics Corporation today and set a price target of $162. The company’s shares closed yesterday at $141.80.
According to TipRanks.com, Miller is a top 100 analyst with an average return of 21.1% and a 65.8% success rate. Miller covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, MKS Instruments, and Nanometrics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for IPG Photonics Corporation with a $181.83 average price target.
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Based on IPG Photonics Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $101 million. In comparison, last year the company had a net profit of $116 million.
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IPG Photonics Corp. engages in the design, development, production, and distribution of fiber lasers, fiber amplifiers and diode lasers. Its products include lasers systems, beam delivery, medical, telecom equipment, and components such as pump diodes, chillers, and mid-IR crystals.
