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Citi Downgrades Stratasys To Neutral, 3D Systems To Sell

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Shares of 3D Systems Corporation DDD have surged 110 percent YTD, while Stratasys, Ltd. SSYS shares have climbed 22 percent. Citi’s Kenneth Wong downgraded the ratings for both companies, citing valuation.

3D Systems

Analyst Kenneth Wong downgraded the rating for the company from Neutral to Sell, while raising the price target from $10 to $15. 3D Systems’ shares have jumped despite the 3D printing market remaining unsettled.

Wong commented that the upside from operational efficiencies as well as a possible takeout seem to be “overstated,” although the recent hiring of Vyomesh Joshi as CEO is a...