Canaccord Genuity Boosts PT on 3D Systems (DDD), Sees 14% Upside

May 13, 2013 9:05 AM EDT
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Price: $16.11 --0%

Rating Summary:
    8 Buy, 13 Hold, 5 Sell

Rating Trend: = Flat

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Canaccord Genuity reiterated a Buy rating and boosted its price target on 3D Systems (NYSE: DDD) from $45 to $50 on continued multiple expansion.

"While share count increases slightly on recent secondary, we believe DDD can deliver upside to consensus estimates driven by strong printer and services revenue," analyst Bobby Burleson said. "We also expect multiple expansion as the company moves into the commercialization phase for Bespoke (carpal tunnel braces) in H2 of this year."

Given the dilution from the recent stock offering, Burleson is taking down C2013 EPS from $1.12 to $1.06 and C2014 EPS from $1.62 to $1.52.

For an analyst ratings summary and ratings history on 3D Systems click here. For more ratings news on 3D Systems click here.

Shares of 3D Systems closed at $43.85 yesterday.

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