In a report published on Monday, Piper Jaffray analyst Troy D. Jensen raised the price target on Proto Labs PRLB from $58 to $65 and maintained a rating of Overweight on the company.
In the report, Piper Jaffray stated, "Based on our first analysis of Proto Labs' Web traffic, we believe the company observed a significant jump in web traffic quarter-to-date, and believe recent data points out of RAPID suggests June sales are tracking above plan. We believe capacity expansion, sales force growth and new material introductions will bolster PRLB's already impressive base business and translate into strong top line growth with 30%+ operating margins over the next several years."
Proto Labs closed on Friday at $57.15.
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