3D Systems price target lowered to $4 from $6 at Lake Street

Lake Street lowered the firm’s price target on 3D Systems to $4 from $6 and keeps a Buy rating on the shares. 3D Systems’ filings are now up to date following a lengthy change in auditors that delayed its 10-K and subsequent 10-Q’s several months, notes the analyst, who thinks additive manufacturing tailwinds are in favor of the space but recessionary concerns and tight lending requirements have persisted longer than originally expected. The company lowered its full-year guidance, but the firm believes 3D Systems remains well-positioned coming out of this economic slowdown and argues that “its restructuring efforts provide a stable platform for profitable future growth.”