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UPDATE: JP Morgan Downgrades 3D Systems Corporation to Underweight on Valuation

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JP Morgan lowered its rating on 3D Systems Corporation (NYSE: DDD) from Neutral to Underweight while maintaining a $34.50 price target per share.

JP Morgan noted, "The stock is up 148% YTD (S&P500 up 9%), and has traded through our 2013 year-end price target. Though long-term prospects for 3D printing technologies, and 3D Systems, are very good, the stock prices in aggressive expectations and riskreward is skewed unfavorably, in our view. With a near-term perspective, we are concerned that the stock does not reflect cyclical risks, and the ~35% exposure to European end markets. We are also concerned that expectations relating to the consumer product launch are unrealistic."

3D Systems Corporation closed at $35.78 on Wednesday.

Latest Ratings for DDD

DateFirmActionFromTo
Dec 2014Longbow ResearchInitiates Coverage onUnderperform
Nov 2014JefferiesMaintainsBuy
Nov 2014Imperial CapitalMaintainsOutperform

View More Analyst Ratings for DDD
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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