Oppenheimer Maintains Outperform On 3D Systems On The Heels Of Recent Acquisitions
In a research report released Wednesday, Oppenheimer analyst Holden Lewis maintained an Outperform rating on 3D Systems Corp (NYSE:DDD) with a $57 price target, which represents a potential upside of 68% from where the stock is currently trading.
Lewis noted, “We are adjusting our model to reflect the Robtec and pending Cimatron deals. We have not altered sales or EPS, instead easing organic forecasts. This does not change our enthusiasm for the story. EuroMold highlighted investments 3DS is making into serial production.”
The analyst continued, “Short term, the disconnect between this and the nascent state of the application may weigh on growth. Intermediate term, as serial production evolves, we think 3DS is well placed to benefit. Arguments that 3DS is broken are ill founded. 2014 should be the bottom for organic growth/margins, and comps are easy. Pessimism is high. We still view 3D Systems’ 2015 set up favorably.”
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 1.1% and a 50.0% success rate. Lewis has an -4.1% average return when recommending DDD, and is ranked #2107 out of 3393 analysts.