Citi twice upgrades IPG Photonics to Buy on business recovery
Citi analyst Jamie Wang upgraded IPG Photonics twice (IPGP) to buy from sell with a target price of $105, up from $68, according to the third quarter report. The firm anticipates that the company’s business recovery in the third quarter will continue due to improved demand for welding and micromachining. IPG posted positive year-over-year revenue…