Stratasys, Ltd. (NASDAQ:SSYS), a leading global provider of 3D printing and additive manufacturing solutions, today announced Kangshuo Group Co. Ltd is opening the largest 3D printing service bureau network dedicated to serving China’s domestic market with up to 1,000 high precision 3D printers from the company’s Solidscape®, Inc. subsidiary. The 80,000 square-foot multi-story facility in Foshan City, Guangdong Province, P.R. China represents the first phase of a multi-year agreement to build and equip four service bureaus.
This far-reaching agreement includes the creation of 100 Innovation and Entrepreneurship Centers across China, each featuring Stratasys’ Solidscape high precision 3D printers. Also included in the comprehensive agreement is a plan to supply China’s 3D printing education initiative with large quantities of Solidscape 3D printers. Finally, the facility features a full 21,000 square foot assembly factory where Kangshuo will assemble-to-order Solidscape 3D printers for sale in the domestic Chinese market.
This marks the most comprehensive 3D printing collaboration to date in China for Solidscape, and is aimed to help drive significant revenue growth for US-basedSolidscape.
“This is an historic day for modern China. We are very excited about opening the largest 3D printing service bureau in China. We believe that we can now offer our customers the best possible products for the jewelry sector and help drive innovation in China,” stated Kangshuo President Bin Liu. “For us, the clear choice was Solidscape. It is the beginning of a long and prosperous journey together.”
Underpinning future success of the collaboration is the commitment by the Chinese government to embrace 3D printing as a driving force in China’s future manufacturing development. “3D printing technology is very important – we need to have this new industrialization as soon as possible,” according to President Xi Jinping of China. Both the Ministry of Industry and Information Technology and the Ministry of Education have developed aggressive, multi-decade plans for growing and employing a highly skilled workforce. The Foshan City initiative is one of the top five enterprises highlighted by the District government office.
“We believe our collaboration is the driving force in creating a new 3D printing ecosystem in China,” said Fabio Esposito, President of Solidscape, aStratasys company. “With Stratasys’ Solidscape 3D printers, Kangshuo is creating China’s largest Custom 3D Printing Manufacturing network, building an assembly factory for equipping China’s emerging 3D printing markets, opening Innovation and Entrepreneurship Centers across China and working with the government on educating a highly-skilled workforce. It is an amazing example of global cooperation. We are honored to have such a strong ally as Kangshuo.”
Kangshuo exclusively chose Solidscape high precision 3D printers since these 3D printers produce the most accurate, detailed models with the industry’s highest quality surface finish – all critical for the rigorous demands of custom manufacturing applications. The combination of a high precision 3D printer capable of a 6 micron resolution with wax materials enables custom manufacturers to design and 3D print models with complex, organic geometries that are 100% castable in any metal.(Original Source)
Shares of Stratasys closed yesterday at $32.87. SSYS has a 1-year high of $130.83 and a 1-year low of $30.95. The stock’s 50-day moving average is $35.40 and its 200-day moving average is $51.50.
On the ratings front, Stratasys has been the subject of a number of recent research reports. In a report issued on July 9, Piper Jaffray analyst Troy Jensen maintained a Hold rating on SSYS, with a price target of $42, which implies an upside of 27.8% from current levels. Separately, on June 17, Oppenheimer’s Holden Lewis maintained a Buy rating on the stock and has a price target of $50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Troy Jensen and Holden Lewis have a total average return of 8.3% and -17.8% respectively. Jensen has a success rate of 54.2% and is ranked #734 out of 3713 analysts, while Lewis has a success rate of 22.7% and is ranked #3630.
Overall, 7 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $50.50 which is 53.6% above where the stock closed yesterday.
Stratasys Ltd provides additive manufacturing solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. It offers 3D printers and 3D production systems.