Bank of America Lowers 3D Systems Price Objective; Underlying Trends Cause Concern
On Wednesday, Bank of America released a note on 3D Systems (NASDAQ: DDD). Analyst Wamsi Mohan is “surprised that materials growth y/y was driven more by less ASP decline rather than higher volumes relative to 3Q.”
The analyst believes the divergence of the volume and mix impact for printers from historical trends can be explained by “increased contribution from the consumer printers that ticked up significantly in 3Q13.”
Mohan reiterated his Underperform rating and lowered the price objective to $60 on “lower confidence on longer term model.”
Shares of 3D Systems are down a modest 0.4 percent to $61.75.
Latest Ratings for DDD
|Sep 2014||Pacific Crest||Downgrades||Outperform||Sector Perform|
|Sep 2014||Morgan Stanley||Initiates Coverage on||Equal-weight|
|Aug 2014||Stifel Nicolaus||Initiates Coverage on||Buy|
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