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Stratasys -3.7%; Deutsche downgrades, sees limited near-term catalysts

Nov. 09, 2015 11:52 AM ETStratasys Ltd. (SSYS) StockSSYSBy: Eric Jhonsa, SA News Editor3 Comments
  • Believing "the current glut of 3D printing machines installed over the past 2 years will put pressure on demand for the next 6-12 months, limiting revenue upside," Deutsche's Sherri Scribner has downgraded Stratasys (NASDAQ:SSYS) to Hold, and cut her target by $12 to $28.
  • Scribner, who launched coverage on Stratasys (currently trades below $27) at Buy in Dec. 2013 (when shares were at a lofty $117.00), now thinks shares will likely stay range-bound through 2016 as weak printer capex and its related impact on supplies revenue and gross margin weighs on results.
  • The downgrade comes five days after Stratasys' beaten-down shares jumped in spite of a Q3 miss and soft Q4 guidance.

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