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Bank of America Lowers 3D Systems Price Objective; Underlying Trends Cause Concern

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On Wednesday, Bank of America released a note on 3D Systems (NASDAQ: DDD). Analyst Wamsi Mohan is “surprised that materials growth y/y was driven more by less ASP decline rather than higher volumes relative to 3Q.”

The analyst believes the divergence of the volume and mix impact for printers from historical trends can be explained by “increased contribution from the consumer printers that ticked up significantly in 3Q13.”

Mohan reiterated his Underperform rating and lowered the price objective to $60 on “lower confidence on longer term model.”

Shares of 3D Systems are down a modest 0.4 percent to $61.75.

Latest Ratings for DDD

DateFirmActionFromTo
Nov 2016Gabelli & Co.UpgradesHoldBuy
Oct 2016FBR CapitalAssumesMarket Perform
Aug 2016JefferiesMaintainsHold

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Posted-In: Bank of America Wamsi MohanAnalyst Color Price Target Reiteration Analyst Ratings

 

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