IPG Photonics (IPGP -6%) trades lower following a downgrade to Hold from Stifel. The firm cites...

|About: IPG Photonics Corporation (IPGP)|By:, SA News Editor

IPG Photonics (IPGP -6%) trades lower following a downgrade to Hold from Stifel. The firm cites IPG's valuation - the company has seen a decent run-up from its summer lows - and a belief the industrial laser maker will see tougher competition and slowing earnings growth in 2013.