Canaccord Genuity Reiterates a 'Buy' on 3D Systems (DDD); Prices Convert To Expand Opportunity With Meaningful Acquisition
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Price: $3.19 +0.95%
Rating Summary:
9 Buy, 17 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
9 Buy, 17 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Canaccord Genuity reiterates a 'Buy' on 3D Systems (NYSE: DDD) price target of $22.00.
Canaccord analyst, Bobby Burleson,�said, "We view Monday’s capital raise and acquisitions positively. DDD’s convertible notes offering was made primarily to fund what we see as complementary acquisitions intended to double DDD’s sales channel through additional resellers, while expanding the combined company’s product portfolio and addressable market. Further, we believe DDD will slow its acquisition pace going forward in order to focus on execution of cost efficiencies and the integration of Z Corp and Vidar Systems. Fewer acquisitions going forward will highlight organic growth (management expects over 15% revenue CAGR), a key area of concern for investors."
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 $15.71 yesterday.
Canaccord analyst, Bobby Burleson,�said, "We view Monday’s capital raise and acquisitions positively. DDD’s convertible notes offering was made primarily to fund what we see as complementary acquisitions intended to double DDD’s sales channel through additional resellers, while expanding the combined company’s product portfolio and addressable market. Further, we believe DDD will slow its acquisition pace going forward in order to focus on execution of cost efficiencies and the integration of Z Corp and Vidar Systems. Fewer acquisitions going forward will highlight organic growth (management expects over 15% revenue CAGR), a key area of concern for investors."
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 $15.71 yesterday.
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