LITE - A Look Under The Hood Suggests IPG Photonics Corporation Could Be Topping Out
- IPGP reported some juicy headline numbers with EPS doubling, but a look under the hood suggests all is not well.
- While the stock is 36% off its highs in 2021 and down for the year, IPGP is still no bargain with multiples where they are.
- While the stock could rally in the short term, the chart patterns suggest the overall direction remains down.
- There may come a time when long IPGP is the way to go, but with top and bottom-line growth appearing to be topping out, now is not that time.
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A Look Under The Hood Suggests IPG Photonics Corporation Could Be Topping Out