Piper Jaffray Upgrades Stratasys Inc. (SSYS) to Overweight

Piper Jaffray upgraded Stratasys Inc. (NASDAQ: SSYS) from Neutral to Overweight with a price target of $39.00 (from $42.00), saying they remain believers in the long-term opportunities.

Analyst Troy Jensen commented, "While we have reduced our near-term revenue and EPS assumptions for Stratasys, we remain upbeat regarding the longer-term outlook for the 3D printing market in general and for Stratasys specifically. Our thesis regarding the recent weakness has remained unchanged. We believe the media hype over the past few years accelerated growth above sustainable levels and the industry added too much capacity too quickly and we are currently working off the excess capacity. We believe the industry will return to more normalized grow rates in 2016 and anticipate Stratasys will grow faster than the market given a robust pipeline of new technologies and materials. Given our confidence regarding growth returning and the current valuation for SSYS shares, we are upgrading to Overweight and establishing a $39 price target (previously $42)."

The firm cut FY 2015 EPS from $1.25 to $0.48 and FY 2016 EPS from $1.85 to $1.15.

For an analyst ratings summary and ratings history on Stratasys Inc. click here. For more ratings news on Stratasys Inc. click here.

Shares of Stratasys Inc. closed at $32.67 yesterday.

You May Also Be Interested In

• Tesla (TSLA) PT Lowered to $120 at HSBC on 'concerns about the timing and scale of prospects'
• Mizuho Upgrades Airbnb Inc. (ABNB) to Buy, 'We see opportunities'
• GE Aerospace (GE) PT Raised to $180 at BofA Securities