UPDATE: JP Morgan Initiates 3D Systems with Neutral, $34 PT; Growth Prospects Balanced with Near-Term Risks

JP Morgan initiates 3D Systems

with a Neutral rating and a price target of $34. JP Morgan notes, "DDD, a pioneer in 3D printing (3DP), offers the widest range of print engines and on-demand print services in the market. DDD is driving adoption of rapid prototyping and direct digital manufacturing at the high-end of the market, and could spark mass-market demand with introduction of low-priced consumer products this year. Long-term prospects seem very good, but the company faces near-term cyclical uncertainty and some execution challenges." DDD closed at $29.61 on Friday.