Oppenheimer Initiates Outperform On 3D Systems, Sets $57 Price Target
In a research report issued today, Oppenheimer analyst Holden Lewis initiated coverage on 3D Systems Corp (NYSE:DDD) with an Outperform rating and a price target of $57.
Lewis wrote, “As one of the two largest companies in the 3D space, it should gain from good secular growth. The sector’s “vision play,” it has led in building a vast portfolio of 3D products/services. The dispersion of energies can yield uneven results, as in 2Q14, which can cause dramatic swings in sentiment. Currently, pessimism is high as reflected in valuation and short interest. But as results smooth and accelerating growth resumes in 2H14, we think it can spark a rotation back toward 3D Systems, generating outperformance.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Holden Lewis has a total average return of -2.1% and a 44.4% success rate. Lewis has a -25.3% average return when recommending DDD, and is ranked #2552 out of 3347 analysts.