Needham & Company Sees Strong Q2 Results from 3D Systems (DDD)

July 29, 2013 10:17 AM EDT
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Price: $16.03 -0.5%

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    8 Buy, 13 Hold, 5 Sell

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Needham & Company analyst James Ricchiuti reiterated a Buy rating and $52 price target on 3D Systems (NYSE: DDD) Monday saying they expect the company to deliver a strong Q2 report ahead of the market open on Tuesday, July 30th.

"Based on discussions we've had with industry players, we believe equipment demand remained strong in the quarter, with DDD in particular likely to have benefited from recent new-product launches and ongoing expansion of its reseller channel," Ricchiuti said.

He added, "We believe DDD's premium valuation can be sustained, which assumes that mgmt continues to deliver on 20%-plus organic growth upon which it has layered software acquisitions (Geomagic and Rapidform), additional paid-parts businesses (RPDG) and most recently new capabilities in metals with the acquisition of Phenix Systems. We believe there could be an upward bias to consensus EPS estimates for 2013, which are at the low-end of mgmt guidance."

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 $47.35 yesterday.

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