Since we wrote back in February 2016, 3D Systems (DDD) has confirmed that the worst is over for the company. Today, Bank of America Merrill Lynch note is strengthening this analysis. Bank of America Merrill Lynch has raised its target price for DDD from $11 to $26 with a Buy recommendation. The analyst noted that the CEO announcement was a much needed catalyst to drive 3D’s turnaround through new strategy, alignment of cost structure and portfolio optimization. 3D Systems has a consensus analyst price target of $12.27 and a 52-week trading range of $6.00 to $32.88.
This note is lifting the 3D Printing sector with Stratasys (SSYS) up today more than 5%, reaching 30$ a 100% increase since its end 2015 bottom. We will know more about Stratasys recent performance during the conference call to be help on the May 9, 2016 at 8:30 a.m. (ET).
Short sellers covering could push both shares further up. Price normalisation is good news for the 3D Printing industry.
3D Systems (DDD) Share price since 01/01/2016.