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Piper Jaffray Downgrades 3D Systems (DDD) to Neutral

August 1, 2014 7:36 AM EDT
Get Alerts DDD Hot Sheet
Price: $4.34 --0%

Rating Summary:
    8 Buy, 18 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 4 | New: 36
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Piper Jaffray downgraded 3D Systems (NYSE: DDD) from Overweight to Neutral with a price target of $50.00 (from $63.00).

Analyst Troy Jensen comments, "3D Systems reported Q2 results which saw organic revenue growth slow to 10% on a y/y basis from 28% in Q1. While metal printers were strong, this was offset by delays in consumer printers and weakness in legacy systems. In addition to slowing system sales, material sales declined sequentially after 6 quarters of solid growth. With 1H sales coming in below expectations and management raising full year guidance, we believe the back-end loaded 2H presents a fair amount of risk. We continue to believe the 3D printing and additive manufacturing industry is likely to sustain 25%+ organic growth and represents one of the better secular growth industries, but we are more cautious on DDD shares given the slowdown in system and material sales coupled with increasing channel inventories."

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 $50.13 yesterday.



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