- The shares of Stratasys Inc. (NASDAQ: SSYS) have received a $23 price target from JPMorgan. These are the details.
The shares of Stratasys Inc. (NASDAQ: SSYS) have received a $23 price target from JPMorgan. And JPMorgan analyst Paul Coster upgraded Stratasys from an “Underweight” rating to a “Neutral” rating.
Coster adjusted the rating as Stratasys posted the first-quarter results ahead of expectations on broad strength across system sales which included early momentum for the Origin and H350 systems.
“Consumables we sense should begin to see some acceleration later this year given nice rebound here in systems sales over past couple quarters, which should buoy overall gross margins more so in 2023. The firm is confident in the product lineup, demand trends, raising prices to partially offset costs, and keeping gross margins flat despite a tough macro environment,” wrote Coster in a research note. “We are incrementally constructive on the print, and sense management is focused on incessantly improving products, driving margins higher, and investing in growth. Cash balance also in really good shape at nearly half a billion with no debt. Move to Neutral on execution, and material pullback in valuation.”
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