Needham analyst James Ricchiuti maintained a Buy rating on Stratasys (SSYS – Research Report) today and set a price target of $16.00.
James Ricchiuti has given his Buy rating for Stratasys (ticker SSYS) due to a set of considerations that include the recent acquisition offer from Nano Dimension. The consistent interest from Nano Dimension, which already holds a significant stake in Stratasys, suggests a valuation upside for the company’s stock. The latest bid to buy Stratasys at $16.50 per share is seen as a move that could potentially expedite Stratasys’ strategic review process aimed at enhancing shareholder value.
Furthermore, Ricchiuti seems to acknowledge the risk of an industry slowdown that could affect Stratasys’ revenue growth projections. However, he appears to maintain a positive outlook, believing that Stratasys is capable of achieving mid-single-digit revenue growth in the latter half of 2024. This projection, coupled with the current acquisition dynamics, underpins the rationale behind the Buy rating, indicating an expectation of Stratasys’ stock performance to be favorable in the near term.
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Stratasys (SSYS) Company Description:
Stratasys Ltd. engages in the provision of applied additive technology solutions for industries including aerospace, automotive, healthcare, consumer products and education. Its systems include desktop 3D printers for idea and design development, various systems for rapid prototyping and large production systems for direct digital manufacturing. The company also develops, manufactures and sells materials for use with its systems and provides related service offerings to its customers. Stratasys was founded on March 3, 1998 and is headquartered in Eden Prairie, MN.
Read More on SSYS:
- Stratasys confirms receipt of unsolicited preliminary proposal from Nano
- Nano announces preliminary proposal to acquire Stratasys for $16.50 per share
- Stratasys partners with Siemens Healthineers on CT phantoms research project
- Stratasys price target lowered to $15 from $17 at Lake Street
- Stratasys (NASDAQ:SSYS) Drops after Announcing Q3 Numbers
