Why 3D Systems Stock Is Climbing
Portfolio Pulse from Erica Kollmann
3D Systems Corporation (NYSE:DDD) shares are trading higher after the company received a multi-year purchase agreement valued at around $250 million through 2028. The agreement supports the indirect manufacturing process for clear aligners. Additionally, 3D Systems is expanding its focus on digital dentistry solutions and plans to launch direct printing technology for clear aligners by late 2025. Analysts have an average 1-year price target of $8.25 for the stock, representing a potential upside of 138.44%.
June 04, 2024 | 9:10 pm
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3D Systems Corporation (NYSE:DDD) shares are up 17.05% after-hours following the announcement of a multi-year purchase agreement valued at $250 million through 2028. The agreement supports the indirect manufacturing process for clear aligners. The company is also expanding its digital dentistry solutions and plans to launch direct printing technology for clear aligners by late 2025. Analysts have an average 1-year price target of $8.25, indicating a potential upside of 138.44%.
The multi-year purchase agreement valued at $250 million is a significant revenue boost for 3D Systems, supporting its indirect manufacturing process for clear aligners. The company's expanded focus on digital dentistry and the planned launch of direct printing technology for clear aligners by late 2025 further enhance its growth prospects. Analysts' positive outlook with a high price target adds to the bullish sentiment.
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