Protolabs upgraded to Hold at Craig-Hallum as business stabilizes

Craig-Hallum analyst Greg Palm upgraded Protolabs to Hold from Sell with a price target of $28, up from $26, after the company reported “mixed” results in Q2. Business trends have stabilized over recent quarters, making its previous Sell rating “too negative,” the analyst tells investors. While the firm doesn’t see investors “getting excited” until revenue and profit growth return, it also does not see any significant negative catalyst in the near-term, the analyst added.