Bank of America Impressed With IPGP's Confident Tone

IPG Photonics Corporation IPGP CFO Tim Mammon presented at Bank of America's SMID conference “and struck a confident tone, in our opinion.” “The company would normally have limited visibility into 4Q (Dec) at this point but orders placed in 1Q for 4Q shipment indicated the year is building at least along seasonal trends,” Bank of America writes. “Consensus estimates are still below normal seasonality, reinforcing our view that 2H11 consensus estimates are likely to increase by $20M in revenue and $0.15-$0.20 in EPS when IPGP gives 3Q guidance. FY12 estimates could go up by more.” IPG Photonics Corporation closed Tuesday at $69.70.