Fly News Breaks for November 13, 2019
Nov 13, 2019 | 18:04 EDT
Piper Jaffray analyst Troy Jensen reiterated an Overweight rating on Stratasys but cut his price target on the shares to $26 from $32 after the company's third quarter results, which included a top-line miss as the company continues to face macro headwinds in Europe and Asia. Jensen said that, despite these headwinds, he is pleased to see growth in the Americas, with "strong" demand in professional and production products along with growth in its target verticals of automotive and aerospace. The analyst added that he continues to believe Stratasys will deliver accelerating revenue growth in 2020 with several new product cycles gaining momentum.
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