In Pacific Crest's morning summary on Thursday, analyst Weston Twigg reiterated an Outperform rating on 3D Systems DDD and $65.00 price target as the company expands its “competitive moat.”
Twigg reported that concerns about Hewlett-Packard are likely overdone and is optimistic as “3D Systems is expanding its competitive moat by developing high-throughput polymers and a continuous throughput printer.”
Pacific Crest wrote that polymers could increase printer throughput by 8x-41x and the expansion of polymer materials is needed to drive the market forward. Twigg sees the polymers as the “perfect competitive response” to Hewlett-Packard, where 3D Systems could further differentiate by developing polymers to meet a variety of needs.
3D Systems remains Pacific Crest's top pick in the space.
Hewlett-Packard is expected to make a “big” announcement in Jun regarding 3-D printing, according to Reuters.
Shares of 3D Systems closed at $49.32 on Wednesday and are currently down 2.8 percent at $47.99.
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