Citi double upgrades IPG Photonics to Buy on business recovery

Core Viewpoint - Citi analyst Jamie Wang has upgraded IPG Photonics (IPGP) from Sell to Buy with a new price target of $105, increased from $68, following a positive Q3 report indicating a recovery in the company's business due to rising demand for welding and micromachining [1] Group 1 - IPG Photonics reported positive revenue growth year-over-year after experiencing 12 consecutive quarterly declines [1] - The recovery in business is expected to continue in Q3, driven by improving demand in key sectors [1]