Stratasys Shares Gain As Craig-Hallum Turns Bullish, Bumps Up Price Target By 55%

Craig-Hallum analyst Greg Palm upgraded Stratasys Ltd SSYS to Buy from Hold with a price target of $42, up from $27, implying a 23% upside.
Over recent weeks, conversations with resellers, industry consultants, competitors, and customers have made the analyst more confident in the potential reaccelerating growth at Stratasys, which isn't fully reflected in the stock yet.
While his checks suggest that demand trends for the core business continue to improve, Palm is most excited about prospects for the three new technologies currently being launched.
While he is not adjusting estimates at this point, Palm sees potential for meaningful outperformance and upside, both near-term and in 2022.
The analyst believes the stock could get re-rated higher to a more consistent multiple than other higher growing additive peers.
With multiple catalysts ahead, he thinks the risk/reward is "overly attractive."
Stratasys will release its Q3 financial results on November 4, 2021.
Price Action: SSYS shares closed higher by 21.43% at $34.00 on Monday.

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