UPDATE: Stifel Initiates Coverage On Stratasys, Called 'Favorite Idea' In 3D
Stratasys' (NASDAQ: SSYS) recent roll in the stock market got a nudge forward Friday when an analyst called the company his "favorite idea" in 3D printing.
Stifel's Patrick Newton initiated coverage on the company with a Buy rating and said the company should post annual growth of more than 30 percent from an array of products spanning consumer and industrial markets.
The company is a leader in the nascent consumer market and launched a pilot plan in September to sell two of its desktop products at about a dozen Home Depot stores priced at $1,375 and $2,899.
On the industrial side, "the only noticeable weakness is the company's lack of a metal printer offering," Newton said in a note establishing a target of $150.
Stratasys in June acquired MakerBot Industries for $403 million, following its agreements in April to buy Solid Concepts and Harvest Technologies.
Newton says those deals represent a strategic shift for Stratasys that may bode "additional aggressive acquisitions in the future."
Stratasys traded recently at $119.39, up 1.4 percent.
Latest Ratings for SSYS
|Jan 2016||JP Morgan||Downgrades||Overweight||Neutral|
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