3D Systems Gains 5% Following Coverage Initiation from Imperial Capital

Shares of 3D Systems (NYSE: DDD) are up 5.3 percent to $47.18 following a bullish note from Imperial Capital. Analyst Ashok Kumar initiated coverage on the stock with an Outperform rating and announced a $60 price target.

The analyst views 3D Systems as “the overall market leader,” as the company has an almost 25 percent market share of the worldwide 3D printer market, according to IDC.

According to Kumar, the company “uses indirect channels to go to market and has announced several new alliances over the last two years to expands its market reach.”

Near-term earnings growth could be constrained “due to the step up in investments in products and distribution.”