Materialise initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Materialise with an Overweight rating and $9.50 price target. Materialise has a strong position in the medical vertical, including applications for orthopedic, cranio-maxillofacial, cardiovascular, and respiratory, and the company is also growing in the wearables industry with applications related to motion and eyewear, the analyst tells investors in a research note. As digital manufacturing grows and the adoption of 3D printing accelerates over the next decade, Cantor believes the role of software will increasingly grow in importance and thinks significant upside remains driven by expectations of pent-up demand, continued shift to the production of end-use parts, and an increase in serial production will reaccelerate revenue growth and lead to higher levels of profitability in 2024 and beyond.