Scalper1 News
3D printer stocks 3D Systems ( DDD ) and Stratasys ( SSYS ) skyrocketed Thursday morning after Bank of America/Merrill Lynch goes from bear to bull on 3D. 3D Systems jumped 15.5% to 19.18 on the stock market today , a nine-month high. Stratasys rose 7.6% to 29.81, breaking out of a base going back to late October. Bank of America gave 3D Systems a “double upgrade,” raising it to a buy all the way from underperform. It hiked its price target from 11 to 26. Why the sudden switch from bear to bull? BofA sees new CEO Vyomesh Joshi fueling a turnaround. Joshi had worked for HP Inc. ( HPQ ), running HP’s printing business. BofA sees Joshi improving profit margins, which have declined. BofA raised 3D EPS targets for 2016 by 2 cents to 30 cents, 2017 EPS revised up by 18 cents to 57 cents and 2018 EPS revised up to 71 cents from 43 cents. Scalper1 News
Scalper1 News