Protolabs price target raised to $38 from $30 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Protolabs to $38 from $30 and keeps a Hold rating on the shares. Proto Labs reported its second strong quarter in a row, with upside across all relevant metrics, the firm notes. While lack of growth and declining margins have been persistent concerns over the last few years, Craig-Hallum says it is starting to see evidence that this shift in strategy is starting to bear fruit. While the firm is “encouraged with recent results,” it is waiting for additional positive data points before getting more bullish on shares.