Longbow Unimpressed With 3D Printing Companies

Longbow initiated coverage on 3D Systems Corporation DDD Wednesday with an Underperform rating and $25 price target.

Analyst Joe Wittine’s price target is the lowest of all analysts tracked by Bloomberg and the stock is currently trading below the average analyst price target of $45.

Wittine felt 3D Systems has execution issues and has “consistently over-promised and under-delivered.” Furthermore, Wittine noted the stock has traded at a “premium valuation” even as is declined 65 percent year-to-date.

Wittine was also less than enthusiastic on DDD competitor Stratasys, Ltd. SSYS, as he initiated coverage with a Neutral rating Wednesday.

3D Systems traded at $31.70 in the premarket, down 1.34 percent.

Stratasys traded at $88.10 in the premarket, down 0.24 percent.