3D Systems (DDD) Price Target Reduced to $33 at Deutsche Bank

Deutsche Bank maintained a Hold rating on 3D Systems (NYSE: DDD) and lowered its price target to $33.00 (from $43.00). The change follows Q4 results and outlook.

Analyst Sherri Scribner said, "DDD's F4Q-14 results missed expectations mainly due to FX headwinds and weaker-than-expected channel performance, primarily in North America. New product introductions and continued spending on growth initiatives had a negative impact on margins but robust margins in services and materials were encouraging. We remain positive on the growth opportunities in the 3D printing market and believe DDD is well positioned to benefit from this growth over the next few years. However, in the near term DDD remains a show-me story. We have cut our estimates and lowered our PT to $33 from $43, driven by a more conservative EV/sales multiple of 4x."

For an analyst ratings summary and ratings history on 3D Systems click here. For more ratings news on 3D Systems click here.

Shares of 3D Systems closed at $30.06 yesterday.

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