Piper Jaffray Maintains IPG Photonics $42 PT, Overweight Rating (IPGP)

Piper Jaffray made no changes to its IPG Photonics IPGP price target of $42 and Overweight rating in a research report published today. In the report, Piper Jaffray states, "We continue to view IPG Photonics as our top pick in CY11 following our visit with CFO Tim Mammen, which included a tour of operations, as well as our recent visit to Photonics West. We believe there are significant growth opportunities for IPG coming from untapped markets and their uniquely designed manufacturing model that will help to sustain their leading market share position (~70% currently) in fiber lasers. We have increased confidence in our expectations that the fiber laser market will more than triple to $900M of the $3B industrial laser market by 2015, with IPG leading the way." shares of IPG Photonics were trading at $34.93 at the time of posting, up 3.28% from Thursday's close.