3D Systems price target lowered to $3.75 from $5.50 at Cantor Fitzgerald

Cantor Fitzgerald analyst Troy Jensen lowered the firm’s price target on 3D Systems to $3.75 from $5.50 and keeps an Overweight rating on the shares. As largely expected, 3D filed its delayed financials for the quarters ending March 31 and June 30, the analyst tells investors in a research note. The firm says that for the first half of 2024, the company’s consolidated revenue declined 13% year-over-year on lower printer sales, partially offset by growth in services with flat materials sales. In industrial, 3D saw growth in aerospace and defense and semiconductors, and the pipeline in those end markets remains healthy, adds Cantor.