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Research Alert: CFRA Keeps Hold Opinion On Shares Of 3d Systems Corporation

05/11/2021 10:40

02:35 PM EDT, 05/11/2021 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our 12-month target price to $25 from $40 on lower revised P/S of 5x our 2022 sales per share estimate, above peers and historical levels to reflect our view of growth. We increase our '21 EPS estimate to $0.51 from $0.28 and '22 to $0.59 from $0.36. DDD posts Q1 EPS of $0.17 vs. $0.04 loss, beating the $0.02 consensus view. Sales rose 7.7% (organic growth of 16.6% ex. divestitures), better than expected, with healthcare growing 39% while industrial fell 12%. Gross margin expanded to 44% from 42%, led by higher volume, improving mix, and cost efficiencies. We think DDD's growth opportunities have vastly improved, with the acquisition of Allevi helping to support its expansion in regenerative medicine. We think the company's goals of double-digit revenue growth, 50% gross margin, and 20% Adjusted EBITDA are more realistic and believe its September Analyst Event could act as a catalyst. We are encouraged by DDD's vastly improved financial position, with cash of $133M and absence of long-term debt.