Stratasys Inc. (SSYS) PO Raised to $20 at BofA/Merrill Lynch on 1Q Revenue Beat; 'Printer Mix, Declines in Service Pressure Gross Margins'
BofA/Merrill Lynch raised its price objective on Stratasys Inc. (NASDAQ: SSYS) to $20.00 (from $17.00) while maintaining a Underperform rating, following the company's first quarter earnings report.
Analyst Wamsi Mohan notes the company delivered first quarter earnings per share in-line with estimates, while revenues beat consensus projections, driven by strength in materials and customer support, despite gross margin pressure from lower printer sales.