FBR Capital Assumes Stratasys Inc. (SSYS) at Outperform
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FBR Capital assumes coverage on Stratasys Inc. (NASDAQ: SSYS) with a Outperform rating and a price target of $29.00.
New analyst Christopher Van Horn commented, " Stratasys brings to bear two encouraging aspects: It is the largest additive manufacturing company on a volume basis, and it is highly specialized, which should keep accelerating competition at bay. Make no mistake: Specialization does not preclude gains from industry volume growth, and we see additive manufacturing entering a long-term upswing. Total industry revenues could see 20% to 30% annual growth through 2020 as more end markets enter the mix. (Automotive, in particular, is a focal point.) From a valuation perspective, we traditionally have seen SSYS shares trade fairly in line with 3D Systems shares; however, we believe current levels offer an attractive discount. This leads us to reinforce our thesis that the company could outperform the sector."
Shares of Stratasys Inc. closed at $24.09 yesterday.
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