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Fly News Breaks for July 29, 2019
Jul 29, 2019 | 05:45 EDT
Based on feedback from his Q2 reseller survey, Piper Jaffray analyst Troy Jensen believes 3D system demand was below plan during the quarter. This will lead to a slight miss in Q2 and put more emphasis on the second half of 2019 for both 3D Systems (DDD) and Stratasys (SSYS), Jensen tells investors in a research note titled "Q2 3D Survey, Expecting Weak Quarter from 3D Systems and Stratasys." Material demand "remained positively biased" and service bureau demand appeared to be inline with expectations, however, adds the analyst. He's cautious on both stocks going into the print but would use any weakness to accumulate positions. This was a "short-term industrial capex pause," says Jensen, who reiterates Overweight ratings on both 3D Systems and Stratasys. The analyst still anticipates increasing adoption of end-part production and new product introductions to reaccelerate growth in 2020 and beyond.
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