Canaccord Reiterates Buy Rating On 3D Systems; Sees 31% Upside
In a report published today, Canaccord analyst Robert Burleson reiterated a Buy rating and $75.00 price target on 3D Systems Corp. (DDD) representing a potential upside of 31% from where the stock is currently trading.
Burleson comments: “We believe DDD can maintain its 30% organic growth rate driven by the strong demand for Phenix metal machines and the potential disruptive potential of the fabgrade continuous 3D printer likely to be launched by EuroMold. We also expect improving fundamentals for the remainder of 2014, including gross margin expansion on the cessation of new product start-up costs and better services and materials margins”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Robert Burleson currently has a one-year average return of 6% and a 55% success rate. Burleson has a 27.6% average profit recommending DDD, and he is ranked #596 out of 3123 analysts.