Market Overview

Bank of America Lowers 3D Systems Price Objective; Underlying Trends Cause Concern

Share:
Related DDD
Benzinga's Top Initiations
Mid-Morning Market Update: Markets Mixed; J C Penney Sales Miss Estimates

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

DateFirmActionFromTo
May 2016FBR CapitalInitiates Coverage onMarket Perform
Apr 2016NeedhamDowngradesBuyHold
Apr 2016CitigroupDowngradesNeutralSell

View More Analyst Ratings for DDD
View the Latest Analyst Ratings

Posted-In: Bank of America Wamsi MohanAnalyst Color Price Target Reiteration Analyst Ratings

 

Related Articles (DDD)

View Comments and Join the Discussion!