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Brean Capital Starts 3D Systems (DDD) at Buy

July 29, 2013 7:01 AM EDT Send to a Friend
Get Alerts DDD Hot Sheet
Price: $48.17 --0%

Rating Summary:
    12 Buy, 5 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Brean Capital initiated coverage on 3D Systems (NYSE: DDD) with a Buy rating and a price target of $60.00. Analyst Ananda Baruah called the company a strong roll-up and margin expansion story.

"Our investment framework is predicated on: 1) organic revenue growth of >20%, 2) GM expansion of 800bp to 60% primarily from improving mix, and 3) reasonable valuation with a target PEG ratio of ~1.5x that is well within historical ranges. Additionally, we believe the controversial nature of this name (high short interest of ~30%) can actually work in the stock's favor, as it could be prone to short covering. For CY13/14, we’re forecasting EPS of $1.07 and $1.40 vs. the Street's $1.06 and $1.31, respectively," said Baruah.

For an analyst ratings summary and ratings history on 3D Systems (NYSE: DDD) click here. For more ratings news on 3D Systems click here.

Shares of 3D Systems closed at $47.35 yesterday.




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