Needham & Company Starts Proto Labs (PRLB) at Buy; Disruptive Supplier Of Quick-Turn Manufactured Parts on Fast Track

Needham & Company initiates coverage on Proto Labs (NYSE: PRLB) with a Buy. PT $38.00.

Analyst, James Ricchiuti, said, "PRLB has leveraged the Internet and its proprietary automation software that runs on high-performance computer clusters to transform the market for quick-turn short-run CNC machined and injection molded parts. From 2007-2011, PRLB’s revenues grew at an impressive 29% rate, while operating income increased more than threefold. PRLB has been profitable on a GAAP basis in each of the last five years. We believe that PRLB has barely scratched the surface of an estimated multi-billion dollar available market."

For an analyst ratings summary and ratings history on Proto Labs click here. For more ratings news on Proto Labs click here.

Shares of Proto Labs closed at $31.25 yesterday.

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