Analyst Lifts Target on 3D Systems Ahead of Next Week's CES
Shares of 3D Systems (NYSE: DDD) are continuing higher for the third session in a row and for the twelfth time in 14 trading sessions Thursday. Although the stock declined to a low at $90.15 just after this morning's open, the stock retook positive territory and is now up about 1 percent.
Traders in 3D Systems are responding to an earlier research note from Needham's James Ricchiuti in which the analyst boosted his price target on the stock from $82 previously to $100.
Ricchiuti believes the company will have a "major presence" at the revered Consumer Electronics Show next week, potentially announcing new consumer and professional 3D printers.
The Needham analyst maintains a Buy rating on 3D Systems.
With shares of 3D Systems last trading at $93.90, Ricchiuti's new price target represents potential upside of just 6 percent.
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