Analyst Lifts Target on 3D Systems Ahead of Next Week's CES

Shares of 3D Systems

are continuing higher for the third session in a row and for the twelfth time in 14 trading sessions Thursday. Although the stock declined to a low at $90.15 just after this morning's open, the stock retook positive territory and is now up about 1 percent. Traders in 3D Systems are responding to an earlier research note from Needham's James Ricchiuti in which the analyst boosted his price target on the stock from $82 previously to $100. Ricchiuti believes the company will have a "major presence" at the revered Consumer Electronics Show next week, potentially announcing new consumer and professional 3D printers. The Needham analyst maintains a Buy rating on 3D Systems. With shares of 3D Systems last trading at $93.90, Ricchiuti's new price target represents potential upside of just 6 percent.