Fly News Breaks for January 28, 2020
Jan 28, 2020 | 05:21 EDT
2019 was a disappointing year for Stratasys, says Piper Sandler analyst Troy Jensen, who notes the growth he originally anticipated didn't materialize. While the U.S. market appears to be improving, weakness in Europe and slower than expected new product launches were the primary factors behind the challenging year, Jensen tells investors in a research note. However, he believes the company's lowered Q4 guidance in November already reflected weak demand trends. He would use any weakness in Stratasys shares around the company's initial 2020 outlook as an opportunity to start accumulating positions. New product introductions throughout 2020 will provide catalysts for the stock and help reaccelerate the company's revenue growth, contends Jensen, who keeps an Overweight rating on Stratasys with a $26 price target.
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