UPDATE: Dougherty Raises Stratasys' PT, Downgrades Rating

According to a research report published today, Dougherty & Company has increased Stratasys Inc.'s (NASDAQ: SSYS) PT from $30 to $33, but is downgrading its rating to Neutral on valuation.In the report, Dougherty & Company commented, “As an industry leader in the three-dimensional printing space, Stratasys continues to execute well. We heard nothing during the Q411 earnings call on Tuesday that causes us to doubt that the company would be able to achieve at least 15% organic growth, and possibly margin expansion, in FY12. In our view, Stratasys appears to be on the right track, especially as it focuses on growing its business outside of the lackluster HP partnership, which was announced in January 2010 and has ceased to perform to expectations. Stratasys's Q411 results were strong, beating ours and consensus estimates for yet another quarter on higher-than-expected sales of the most expensive Fortus line of systems.”Stratasys closed yesterday at $38.06.