UPDATE: Bank Of America Merrill Lynch Reiterates Buy On 3D Systems On Strength Of 3D Printer Market

In a report published Monday, Bank of America Merrill Lynch analyst Wamsi Mohan reiterated a Buy rating on 3D Systems DDD, and raised the price target from $69.00 to $90.00. In the report, Bank of America Merrill Lynch says "In this note we analyze the potential rev and EPS impact to 3D Systems from sales of consumer 3D printers (primarily sold to professional users) over the next few years. Our thesis is that the 3D printer market remains underpenetrated and DDD should see significant rev growth use of the higher end printers in direct digital manufacturing, drive increased sales of higher margin print materials over time and benefit from unit growth of low end 3D printers. Reiterate Buy, PO moves up to $90." 3D Systems closed on Monday at $80.60.