Based on feedback from a Q4 reseller survey, 3D printing industry demand was mixed in Q4 with system and service bureau slightly below plan, but offset by modest upside in material sales, Piper Sandler analyst Troy Jensen tells investors in a research note. The U.S. market appears healthy, but sustained weakness in Europe and Asia is preventing growth for select vendors, adds the analyst. Jensen continues to believe production applications are gaining momentum and should be a better driver for system sales in 2020 and beyond. He prefers shares of Stratasys (SSYS) and downgraded 3D Systems (DDD) this morning to Neutral.