Jefferies Starts Voxeljet AG (VJET) at Hold

December 11, 2013 6:57 AM EST
Get Alerts VJET Hot Sheet
Price: $8.58 -3.92%

Rating Summary:
    6 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Jefferies initiates coverage on Voxeljet AG (NYSE: VJET) with a Hold rating and $40 price target.

Analyst Peter Misek states, "We believe 3D printing will create long-term value by revolutionizing mass manufacturing, but will take some time to develop. We see near-term growth being driven by prototyping, which is expanding from industrial into broader enterprise applications. We think consumer is an interesting opportunity but generally overhyped."

Misek said Voxeljet is well positioned for mass manufacturing but it is still early and it carries a pricey valuation.

"Named after a 3D pixel, a voxel, voxeljet is attempting to spearhead and accelerate the adoption of 3D printers in mass manufacturing," Misek said. "Making direct parts (or castings for casts as the casting is destroyed in the process) is the big long-term opportunity for 3D printing. Wohlers notes that the ratio of prototypes to production parts is often 1:1000 or much greater. While 3D printers will need further productivity gains to penetrate mass manufacturing, the TAM is orders of magnitude higher."

For an analyst ratings summary and ratings history on Voxeljet AG click here. For more ratings news on Voxeljet AG click here.

Shares of Voxeljet AG closed at $39.11 yesterday.

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