Needham keeps a Buy rating and $16 price target on Stratasys (SSYS), saying the latest bid for the company by Nano Dimension (NNDM) is likely to increase the pressure on the company’s board to complete the process in a timely fashion. The firm adds however that the partial takeout premium embedded in the Stratasys shares could be overshadowed by a prolonged industry downdraft in demand, as Street estimates are assuming that the company’s revenues can grow in the mid-single-digits in the second half of FY24.
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