IPG Photonics Wins $10M Lockheed Order, Analysts Lift Targets to $180
IPG Photonics received a $10 million order from Lockheed Martin for CROSSBOW laser counter-UAS defense systems to be delivered over the next several quarters. Stifel raised its price target to $165 from $92, while Raymond James trimmed its rating to Outperform from Strong Buy and upped target to $180.
1. Lockheed Martin Order
IPG Photonics secured a follow-on order valued at approximately $10 million from Lockheed Martin for its CROSSBOW high-energy laser counter-UAS defense systems. The order is slated for delivery over the next several quarters, underscoring continued demand for deployable directed energy solutions.
2. Stifel Price Target Increase
On February 13, Stifel lifted its price target on IPG Photonics shares to $165 from $92 while maintaining a Buy rating. This reflects increased confidence in the company’s outlook after a strong fiscal Q4 performance.
3. Raymond James Rating Adjustment
The same day, Raymond James downgraded its rating on the stock to Outperform from Strong Buy but raised its price target to $180 from $97. This adjustment follows a sharp multiple re-rating, a strong Q4 beat and more than 100% year-to-date share appreciation.