- FBR's Ajay Kerjriwal, who is reiterating an Outperform and $75 PT on ExOne (XONE +7.1%), says management indicated at investor meetings it's confident the 3D printer maker can achieve 40%-50% organic revenue growth over the next several years.
- Also mentioned: ExOne is working with auto industry clients such as BMW and Tesla to create products such as "air-cooled systems that have intricate channels, combustion-related parts, and suspension arms." Mass-production for some parts is expected to start in 2-3 years.
- Kerkriwal adds management's commentary "suggests strong interest from large industrial companies in establishing JVs/partnership for product/process development," and praises the "competitive superiority" of ExOne's technology.
- ExOne has had a roller-coaster ride this year. Though shares are still up 164% from a Feb. IPO price of $18, they're down 40% from an Aug. high of $78.80.
ExOne higher; FBR comments on bullish management talks
Oct 7 2013, 13:54 ET