FBR Trims PT on Stratasys (SSYS) to $24; Q3 Tough, But GM Improvement Noted
- Wall Street turns defensive on Trump's protectionist stance
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- Qualcomm (QCOM) Thrashed as Apple (AAPL) Lawsuit Threatens Licensing Business Model
- McDonald's (MCD) Tops Q4 EPS by 3c
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
FBR & Co. trims its price target on Outperform-rated Stratasys (Nasdaq: SSYS) from $29 down to $24 following recent Q3 results and lowered outlook.
The firm commented today:
SSYS shares closed down 12% on November 15 after the company reported results below the consensus, largely due to a lackluster market demand environment that we believe was felt by other additive companies, as well. Because the company's sizable install base continues to deliver benefits (larger consumables and maintenance revenues), we believe that slack in demand is somewhat muted. Moreover, an uptick could bolster the financials significantly given management's thorough cost-cutting efforts executed in the last few quarters. In the quarter, the non-GAAP gross margin was 54%, up from 51% one year ago; this helps support the case for an improved cost structure. Overall, we believe that SSYS continues to have a defensible position in the face of growing competition across the additive spectrum, and the recent spate of M&A actions by larger industrial players could provide a long-term valuation tailwind.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
- UPDATE: Seaport Global Securities Downgrades Kansas City Southern (KSU) to Neutral
- UPDATE: Instinet Downgrades Qualcomm (QCOM) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!