Markforged Holding Corp. (MKFG) PT Lowered to $1.30 at Cantor Fitzgerald
Cantor Fitzgerald analyst Troy Jensen lowered the price target on Markforged Holding Corp. (NYSE: MKFG) to $1.30 (from $1.45) while maintaining a Overweight rating.
The analyst comments "Reiterate Overweight Rating and Lower Price Target to $1.30 from $1.45: We lower our 12-month price target to $1.30. Our price target equates to a 2025E EV/Sales multiple of 1.5x. Following a challenging 2023 and 1Q24 for system demand in the additive manufacturing industry, we foresee a favorable tailwind of pent-up demand in 2024, and think new product cycles (i.e., FX20, FX10, and PX100) should re-accelerate growth at Markforged in 2024 and beyond."