Piper Jaffray Maintains Bullish View on Materialise NV (MTLS) on 'Solid' Q4; PT Cut on Sector Multiple Compression

Piper Jaffray analyst Troy Jensen cut his price target on Materialise NV (NASDAQ: MTLS) to $10.00 (from $15.00) but maintained an Overweight rating on the stock following solid Q4 results.

Jensen commented, "After another solid quarter by Materialise, we remain bullish on the company’s growth opportunities, and are becoming strong believers that the company’s strategic investments are beginning to payoff. The company’s 3D printing software segment continues to grow above their long term goal, which saw tremendous growth in Q4 (up 50.8% Y/Y). RapitFit and i.materialsie continued to accelerate, and expansion in these growth businesses and a new metal offering should propel the service segment even further.The Medical segment showed signs of modest improvement from prior quarters, and we believe the introduction of metal printed implants, X-ray version of the Mimics software and expanding distribution network will reaccelerate growth in this segment.Given these dynamics and what we view as an attractive valuation, we are reiterating our Overweight rating on MTLS shares, but have lowered our price target to $10 (from $15), due to multiple compression in the 3D printing universe."

For an analyst ratings summary and ratings history on Materialise NV click here. For more ratings news on Materialise NV click here.

Shares of Materialise NV closed at $7.59 yesterday.

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