- Dougherty's Andrea James has upgraded Stratasys (NASDAQ:SSYS) to Buy ahead of Thursday's Q2 report, and set a $45 target.
- Shares have risen to $35.48 premarket. They're still down 57% YTD.
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Update: James cites low multiples and North American channel checks pointing to improved demand. "Stratasys has fought industry headwinds and made missteps that cost it two-thirds of its share price. Shares have been re-rated as a low-margin industrial, but this re-rating should correct as this disruptive technology company builds back credibility ... We've assessed that HP will compete more directly with competitors than with Stratasys ... We project Q2 results will not disappoint, and we see a strong pipeline into the back half of the year."