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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Read More on SSYS:
- Stratasys up 9% to $14.35 after takeover offer from Nano Dimension
- Stratasys confirms receipt of unsolicited preliminary proposal from Nano
- Nano announces preliminary proposal to acquire Stratasys for $16.50 per share
- Stratasys partners with Siemens Healthineers on CT phantoms research project
- Stratasys price target lowered to $15 from $17 at Lake Street
