UPDATE: Piper Jaffray Upgrades 3D System to Overweight on 3D Printing Secular Trends

Piper Jaffray raised its rating on 3D System DDD from neutral to Overweight and increased its price target from $43 to $53. Piper Jaffray said, "We are upgrading 3D Systems to Overweight from Neutral given our belief the 3D printing industry will experience strong secular growth. … We continue to believe 3D Systems is well positioned within the Direct Digital Manufacturing (DDM) market given the company's metal capabilities with laser sintering machines. We believe the DDM market is one of the bigger near-term drivers of system and material demand and anticipate 3D Systems will be one of the leading suppliers in this market." 3D System closed at $42.17 on Monday.