Stratasys (SSYS): Demos Two New Industrial Grade Technologies Ahead Of IMTS - Needham
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Needham & Company analyst, James Ricchiuti reiterated his Buy rating on shares of Stratasys Inc. (NASDAQ: SSYS) after the company previewed two new next-generation industrial-grade FDM and extrusion 3D printing technologies. These new products are designed for producing large parts for the aerospace and automotive markets and composite parts using an 8-axis motion system. Formal demonstrations of the technologies will begin at the International Manufacturing Technology Show (IMTS) in Chicago early next month.
The analyst stated "The technology demonstration should help answer at least in part concerns some investors have had about SSYS's competitive position in the market as established 3D printing competitors and new players like HP and Carbon attempt to address the gap in fit, form, and function between prototyping and advanced additive manufacturing".
No change to the price target of $24.00.
Shares of Stratasys Inc. closed at $22.53 yesterday.
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