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March 21, 2014
08:19 EDTXONEExOne initial 2014 guidance likely conservative, says Stephens
Stephens thinks ExOne's lower than expected 2014 guidance will likely prove conservative given tailwinds from delayed machine sales and reiterates its Overweight rating on the stock. However, the firm lowered its estimates for 2014 and 2015 for the company and took its price target on ExOne down to $50 from $68.
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July 31, 2015
11:10 EDTXONEBattleground: Analysts disagree on outlook for Stratasys
Two research firms issued ratings changes on 3D printer maker Stratasys (SSYS) this morning, with UBS downgrading the stock to Sell and Piper Jaffray upgrading the stock to Buy. The firms' notes come the day after the company reported much weaker than expected third quarter results and withdrew its full-year guidance, citing uncertainty regarding the timing of a rebound in its growth. BEARISH TAKE: The "rapid deceleration" in the growth of the 3D printing market appears to be "more than temporary," UBS analyst Steven Milunovich wrote in a note to investors today. More specifically, he believes the growth of revenue that the companies can easily obtain, mostly in prototyping, is declining. It may take more time and money than investors anticipate for 3D printing companies to benefit from the next wave of growth, i.e. advanced end-use parts, the analyst warned. Milunovich, who is skeptical about whether Stratasys will be able to meet its revenue growth target over the next 12-18 months, slashed his price target on the stock to $22 from $39. BULLISH TAKE: The longer term outlook for the 3D printing market remains strong, Piper Jaffray analyst Troy Jensen wrote in a note to investors today. Although media hype about 3D printing has been overdone and the industry increased its capacity too quickly, the sector will "return to normalized growth rates" next year, predicted Jensen. Moreover, Stratasys will grow faster than the market in 2016, given its strong upcoming products, Jensen believes. However, he trimmed his price target on the stock to $39 from $42. PRICE ACTION: In morning trading, Stratasys fell 4% to $31.38. Other stocks in the sector also dropped, with 3D Systems (DDD) declining 2.7% to $13.47 and Materialise (MTLS) losing 1.5% to $8.85. However, 3D printer maker ExOne (XONE) rose 0.8% to $9.73. Voxeljet (VJET) shares were little changed.
July 30, 2015
13:03 EDTXONEStratasys pulls 3D printing sector lower after retracting guidance
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