Citigroup Kicks Off Coverage of 3D Printing with Buy Ratings
(Market Watch) Shares of two 3D printing firms jumped Monday morning as Citigroup kicked off coverage of the pair with buy ratings. In early trades, 3D Systems Corp. DDD +1.06% was up 8% to $52.41, while Stratasys SSYS +0.34% jumped 5% to $111.07. In a note to clients, analyst Kenneth Wong said he believes the 3D printing market “is on the cusp of seeing much broader adoption across more upstream production applications and the consumer end market,” which could triple the size of the market within 5 years. “We also expect to see increased utilization of existing systems as customers start to extend use case beyond small batch digital manufacturing,” he wrote. He set a price target of $60 on 3D Systems and a target of $125 on Stratasys.