Needham & Company Maintains Bullish Stance on Stratasys (SSYS) after 'Very Well Attented' Analyst Day

May 24, 2013 10:44 AM EDT
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Price: $19.81 +0.25%

Rating Summary:
    11 Buy, 15 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 11
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Needham & Company reiterated a Buy rating and $94 price target on 3D printing company Stratasys Inc. (NASDAQ: SSYS) following the company's first analyst day since the merger late last year with Objet, which was " very well attended."

Analyst James Ricchiuti comments, "As expected, mgmt reaffirmed its guidance for 2013 and appeared optimistic about the progress achieved thus far in the integration of the two companies. For the first time we can recall since the merger, mgmt expressed interest in pursuing an acquisition(s), although we believe the company will still be focused primarily on driving organic growth in the near term, particularly as it begins to benefit from cross-selling initiatives of the combined reseller channels."

He added, "Assuming continued healthy demand in the market and improving productivity from the combined reseller channels, we expect increased operating leverage in the 2H and in 2014. We reiterate our Buy rating."

For an analyst ratings summary and ratings history on Stratasys Inc. click here. For more ratings news on Stratasys Inc. click here.

Shares of Stratasys Inc. closed at $85.93 yesterday.

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