NEW YORK (TheStreet) -- Investors wondering if growth rates of over 20% will return in the 3D printing space were told by an analyst at Jefferies this morning that he's more confident of that happening for Stratasys (SSYS) - Get Report, though maybe not as quickly as hoped, and more pessimistic for rival 3D Systems (DDD) - Get Report.
WHAT'S NEW: After surveying 30 resellers in the 3D printing space, Jefferies analyst Jason North cut his price target for 3D Systems to $14 from $22 and for Stratasys to $50 from $60. A key investor discussion is when or if the industry will return to 20% growth, said North, noting that his survey indicates Q4 as the most likely time frame for Stratasys and later, if ever, for 3D Systems. The survey suggests weak Q2 results and a "muted" rebound in Q3, North tells investors. He prefers shares of Arcam (AMAVF) and Stratasys, both of which are Buy rated, to Hold-rated 3D Systems and Proto Labs (PRLB) - Get Report.
WHAT'S NOTABLE: Yesterday, Dougherty analyst Andrea James upgraded Stratasys to Buy from Neutral and set a $45 price target on the stock, noting that the firm's North American channel checks indicate the sales climate has improved since the stock was downgraded in April. James also said that the pullback in the stock over that time frame leaves it trading at a "historically low P/E multiple" and that the firm believes HP (HPQ) - Get Report will compete more directly with others in the 3D space than it will with Stratasys.
PRICE ACTION: Shares of 3D Systems have fallen more than 42% in the last three months, closing Monday at $14.57. Shares of Stratasys rose nearly 5% to close at $36.11 on Monday, but the stock is still down nearly 27% over the last three months.
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