3D Systems (DDD) PT Lowered to $9 at Susquehanna

Susquehanna analyst David Ryzhik lowered the price target on 3D Systems (NYSE: DDD) to $9.00 (from $12.00) after 1Q19 results came in significantly lower than expectations, and commentary on the call suggests near-term fundamentals will remain constrained due to softer demand from a key enterprise customer.

The analyst stated "Near-term fundamentals to remain challenged due to printer digestion from a large customer
(following 2018 buildout) and technical issues with metals powder management systems. While neither of these items are of long-term concern to us, we simply lack visibility around a rebound in growth, which is necessary for us to become constructive on shares". No change to the Neutral rating.

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