Shares of fiber laser manufacturer IPG Photonics (NASDAQ:IPGP) jumped 16.8% in the morning session after Raymond James analyst upgraded the stock's rating from Market Perform (Hold) to Outperform (Buy) and maintained a price target of $170. The price target was 27% above the market price when the upgrade was announced.
What is the market telling us:
IPG Photonics's shares are not very volatile than the market average and over the last year have had only 6 moves greater than 5%. Moves this big are very rare for IPG Photonics and that is indicating to us that this news had a significant impact on the market's perception of the business.
IPG Photonics is up 38.4% since the beginning of the year. Investors who bought $1,000 worth of IPG Photonics's shares 5 years ago would now be looking at an investment worth $553.62.
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