UPDATE: J.P. Morgan Reiterates Underweight Rating, Raises PT on 3D Systems Corporation
In a report published Friday, J.P. Morgan & Co. reiterated its Underweight rating on 3D Systems Corporation (NYSE: DDD), and raised its price target from $35.00 to $39.00.
J.P. Morgan noted, “DDD is a leader in 3DP, selling approximately 1,000 professional systems in 2011 (JPM estimate, includes Z-Corp units), accounting for over 15% share of industry-wide unit sales in 2010, according to Wohlers. In the highly fragmented 3D service bureau segment, DDD is the largest participant, having acquired more than a dozen companies in quick succession (out of a total of about 600 worldwide), aggregating over 10% share of the market, we believe.”
3D Systems Corporation closed on Thursday at $40.85.
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Tags: J.P. Morgan & Co.