Needham analyst James Ricchiuti upgraded Stratasys to Buy from Hold with a $15 price target. The company has exceeded consensus estimates for revenue in seven of the last eight quarters, while delivering five consecutive quarters of positive earnings, the analyst tells investors in a research note. While 2023 brings a more challenging demand environment with lengthening sales cycles and an uncertain macro backdrop, this is "more than priced into the stock", Ricchiuti adds, noting that Stratasys shares are trading at the lowest valuation levels in recent memory based on several metrics.
Published first on TheFly
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