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 $29.00.
The analyst comments "SSYS is trading at ~64x our CY22 PF EPS forecast, which is a significant premium to the three-year mean P/E trading range of ~55x. On an EV/CY 22EBITDA basis the stock is trading at 22x, also a hefty premium to the historical range, though reflecting elevated multiples across industrials space. With the recent pullback we think risk reward is more balanced, the stock is trading closer to fair value, and 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 $24.43 yesterday.
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