UPDATE: JPMorgan Upgrades Stratasys Inc. (SSYS) to Neutral
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JPMorgan analyst Paul Coster upgraded Stratasys Inc. (NASDAQ: SSYS) from Underweight to Neutral with a price target of $19.00 (from $16.00).
The analyst comments "We are upgrading SSYS to Neutral. SSYS is trading at 90x our revised CY21E PF EPS forecast of $0.20 which is a massive premium to the five-year mean P/E trading range of ~37x. On an EV/EBITDA basis the stock is trading at ~19 times revised CY 21 PF EBITDA, a near 100% premium. The stock looks expensive based on near-term revenues, but SSYS is clearly under-earning at present, since the company is investing in new products during the COVID-19 downturn, that should restore growth in 2022 and beyond, leading to a better expression of earnings power in the out-years. We expect SSYS to perform in line with the mean of our coverage over the next 6-12 months."
Shares of Stratasys Inc. closed at $17.58 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
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