Piper Jaffray Raises Estimates On IPG Photonics

According to Piper Jaffray, IPG Photonics (NASDAQ: IPGP) estimates are raised.

Piper Jaffray said that it is adjusting estimates for both FY11 and FY12 as industrial laser material processing applications appear poised to return to near CY08's peak levels much faster than expected. “Our PT goes to $85 from $83, based on 28x (unchanged) our FY12 EPS of $3.02.”

IPG Photonics closed on Friday at $75.25.