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Fly News Breaks for November 1, 2017
SSYS, DDD
Nov 1, 2017 | 10:21 EDT
FBR Capital analyst Christopher Van Horn downgraded 3D Systems (DDD) to Neutral from Buy and cut his price target for the shares to $7 from $18 following last night's Q3 earnings report. Negative mix and a highly competitive marketplace lower the company's near-term revenue expansion opportunity, Van Horn tells investors in a research note. He thinks the earnings results "exposed a variety of factors" that could continue to weigh on the shares in the near term. In addition, the analyst downgraded Stratasys (SSYS) to Neutral from Buy and reduced his price target for the shares to $30 from $33. The analyst tempered his outlook for the company following 3D's report and notes the stock is up over 30% this year. He's "comfortable" taking chips off the table at current levels. 3D Systems in morning trading is down 27% to $9.04 while Stratasys is down 5% to $21.32.
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