IPG Photonics downgraded to Neutral from Buy at Seaport Research

Seaport Research downgraded IPG Photonics to Neutral from Buy. The company’s Q2 earnings missed the firm’s forecast and Q3 guidance is below expectations, with further weakness in margins expected, the analyst tells investors in a research note. The firm lowered its estimates materially, adding that sluggishness in the General Industrial markets in the U.S., Europe, and China and weak electric vehicle battery capacity additions in these regions is pressuring sales and margin more than was anticipated.