UPDATE: Bank of America Initiates Coverage on Stratasys on Market Leader Position

In a report published Monday, Bank of America analyst Wamsi Mohan initiated coverage on Stratasys Ltd. SSYS with a Buy rating and $116.00 price target. In the report, Bank of America noted, “We are initiating coverage on Stratasys with a Buy rating and price objective of $116. In our opinion, the 3D printing space has a rapidly growing TAM (22% CAGE through 2017) and Stratasys (58% unit share) with its acquisitions of Objet and Makerbot uniquely addresses a broad spectrum of end markets at all price points. The market remains an early stage opportunity with significant growth, in our view.” Stratasys Ltd. closed on Friday at $99.49.