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Jefferies on Thursday trimmed
3D Systems Corporation'sDDD price target from $46 to $42 while maintaining a Buy rating.
The analysts at Jefferies noted the cut is due to a change in their 2016 estimates. They are now estimating an EV/Sales multiple of 3.5x which assumes a 20 percent discount to peers opposed to the prior of 10 percent.
In addition to the change in estimates, the team also noted one of 3D Systems' main risk continues to be execution. This is evidenced by the issues facing the launch of the Cube 3. Though the Cube 3 was finally launched after being pushed back by a month or so, the analyst noted it is still in "very short" supply and early recipients have had trouble with the cartridges.
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