20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
The bearish case for 3D Systems Corporation (NYSE:DDD) can no longer be justified, according to Piper Jaffray.
The Analyst
Piper Jaffray's Troy Jensen upgraded 3D Systems from Underweight to Neutral with a price target lifted from $14 to $17.
The Thesis
3D Systems is likely to benefit from improving product growth which should benefit the stock for four reasons, Jensen said in the note. These include:
- 3D Systems' second-quarter report showed strong product sales, likely the result of the company's strategic win with Align Technology. The momentum should carry over throughout the next few quarters as first-hand checks and conversations suggests Align ordered around 100 high-end SLA machines. This would represent the biggest deal in the entire 3D printing industry and could generate $35 to $40 million in system revenues.
- 3D Systems showed two consecutive quarters of re-accelerating growth on a year-over-year basis. Coupled with the Align deal, the company's accelerating product growth should continue to accelerate moving forward.
- Piper Jaffray's survey with reseller suggests service bureau demand was better than expectations.
- The launch of multiple Figure 4 platforms represents a catalyst for 2019 and beyond. The company confirmed it started shipping certain systems to resellers and expects sales cycles to last around six to nine months.
Price Action
Shares of 3D Systems were trading higher by more than 8 percent to $18.07.
Related Links:
Analyst: 3D Systems Is Making The Right Moves
3D Systems' 'Undeniably Sensible' Story
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!