- The stock price of Stratasys Ltd (NASDAQ: SSYS) increased by 21.43% yesterday. This is why it happened.
The stock price of Stratasys Ltd (NASDAQ: SSYS) increased by 21.43% yesterday. Investors are responding positively to a bullish research report.
Craig-Hallum analyst Greg Palm had upgraded from a “Hold” rating to a “Buy” rating. And Palm had increased the price target on the company from $27 to $42.
In the past few weeks, Palm had conversations with resellers, industry consultants, competitors, and customers who have made him more confident in the reaccelerating growth at the company. This is something that is not yet baked into the stock, according to Palm.
Even though Palm’s checks suggests that demand trends for the core business continue to improve, Palm is mostly excited about prospects for the 3 new technologies that are currently being launched.
Even though Palm is not adjusting estimates at this point, he sees potential for meaningful outperformance and upside in both the near-term and next year. And Palm believes that the stock could get re-rated higher to a multiple that is more consistent with other higher growing additive peers. And with multiple catalysts ahead, Palm believes that the risk/reward is overly attractive.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.