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Fly News Breaks for May 15, 2017
SSYS
May 15, 2017 | 08:56 EDT
William Blair analyst Brian Drab downgraded Stratasys to Underperform from Market Perform with the shares up 43% in the last month and 81% year-to-date. The stock is overvalued at $30, Drab tells investors in a research note. This price represents a 100 times multiple on the consensus 2017 adjusted earnings estimate and 57 times multiple on the 2018 consensus estimate, the analyst points out. He says the current valuation "reflects expectations for a return to robust growth and material margin expansion, both of which are unlikely."
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