Dougherty Upgrades Stratasys (SSYS) to Buy, Shares Increase 14% on News
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Price: $7.90 +0.51%
Rating Summary:
16 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Dougherty & Company upgraded shares of Stratasys (Nasdaq: SSYS) today to a Buy rating while lowering its price target from $32 to $28.
The firm became more bullish on the company following an interview from HP (NYSE: HPQ) Executive Vice President of Imaging and Printing Vyomesh Joshi. In Mr. Joshi's speech, he was very positive on the future of 3D printing and noted that he forecasts a 15 percent CAGR over the next five years.
The company's Fortus 250mc is performing well and is outpacing a majority of the other machines in the industry.
The firm also tweaked its 2011 estimates, revenue went to $156.3 million from $156.9 million and its EPS estimate to $0.89 from $0.88. For 2012, Dougherty lowered its revenue estimate to $186 million from $193 million and raised its EPS estimate to $1.06 from $0.97. The firm now forecasts higher gross margins in the coming quarters.
Shares of SSYS are trading up on the day by 13.85 percent or $2.92 to $24.
The firm became more bullish on the company following an interview from HP (NYSE: HPQ) Executive Vice President of Imaging and Printing Vyomesh Joshi. In Mr. Joshi's speech, he was very positive on the future of 3D printing and noted that he forecasts a 15 percent CAGR over the next five years.
The company's Fortus 250mc is performing well and is outpacing a majority of the other machines in the industry.
The firm also tweaked its 2011 estimates, revenue went to $156.3 million from $156.9 million and its EPS estimate to $0.89 from $0.88. For 2012, Dougherty lowered its revenue estimate to $186 million from $193 million and raised its EPS estimate to $1.06 from $0.97. The firm now forecasts higher gross margins in the coming quarters.
Shares of SSYS are trading up on the day by 13.85 percent or $2.92 to $24.
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