Deutsche Bank Downgrades 3D Systems Amid Profit Warning
In a Market Research note out Wednesday morning, Deutsche Bank downgraded shares of 3D Systems Corporation (NYSE: DDD) from a Buy to Hold, following an negative pre-announcement due to product delay.
The firm also lowered its price target from $80 to $43, based on lower estimates and lower multiple justification.
The note went on to say, "We remain positive on the long-term growth in the 3D printing market and expect DDD's results to improve in F4Q-14, however we believe these positives are already reflected in DDD's valuation, thus we are downgrading the shares to Hold from Buy."
"Positive Risks: Faster Organic Growth, Improving Margins
Negative Risks: Slower growth, inability to integrate acquisitions, and unsuccessful rollout of new products."
Shares of 3D Systems were down 15 percent at $36.87.
Latest Ratings for DDD
Oct 2014 | Oppenheimer | Initiates Coverage on | Outperform | |
Oct 2014 | Deutsche Bank | Downgrades | Buy | Hold |
Sep 2014 | Pacific Crest | Downgrades | Outperform | Sector Perform |
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