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Fly News Breaks for January 16, 2020
DDD
Jan 16, 2020 | 08:14 EDT
As previously reported, Loop Capital analyst Ananda Baruah downgraded 3D Systems to Sell from Hold with a $9 price target. The analyst cites "peak valuation" on the stock following an 80% appreciation in its price since August as its enterprise value to expected EBITDA approaches the 1.5-year high of 40-times, noting that while the company has stabilized its revenue and may continue to show progress through 2020, it is difficult to gain conviction in the traction of EBIT being "commensurate with peak valuation".
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