3D Systems (DDD) PT Lowered to $24 at Loop Capital
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Loop Capital analyst Ananda Baruah lowered the price target on 3D Systems (NYSE: DDD) to $24.00 (from $31.00) while maintaining a Hold rating.
The analyst commented, "DDD generated very solid progress moving its business model forward as it delivered March quarter revenue and EPS stronger than Street. DDD’s new normalized business model targets >10% revenue growth, >50% GM and >20% EBITDA margins (vs. flattish revenue since 2015, 43% GM and 5.0% EBITDA margins in 2020). DDD believes the areas of the markets it will target have potential to actually grow ~20%, and as such we believe this suggests stronger potential normalized growth."
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