Proto Labs Positioned For Growth: Analyst Predicts Strong Gains Amid Digital Manufacturing Surge
Portfolio Pulse from Lekha Gupta
Cantor Fitzgerald analyst Troy Jensen initiated coverage on Proto Labs, Inc. (NYSE:PRLB) with an Overweight rating and a price target of $44.00, citing the company's strong position in the growing digital manufacturing market. The analyst expects Proto Labs to benefit from improving economic conditions and a shift towards digital manufacturing, predicting EPS of $1.50 in FY24 and $1.71 in FY25. Investors can also gain exposure through 3D Printing ETF (BATS:PRNT) and Pacer BlueStar Engineering The Future ETF (NASDAQ:BULD).
June 05, 2024 | 7:24 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Investors can gain exposure to Proto Labs through the Pacer BlueStar Engineering The Future ETF (NASDAQ:BULD). The positive outlook for Proto Labs could indirectly benefit BULD, given its exposure to the digital manufacturing sector.
As BULD holds shares of Proto Labs, positive news for PRLB could lead to a modest increase in BULD's value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Cantor Fitzgerald analyst Troy Jensen initiated coverage on Proto Labs with an Overweight rating and a price target of $44.00. The analyst highlights the company's strong position in the digital manufacturing market and expects it to benefit from improving economic conditions and a shift towards digital manufacturing. EPS estimates are $1.50 in FY24 and $1.71 in FY25.
The Overweight rating and $44 price target from a reputable analyst, along with positive EPS estimates, are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Proto Labs through the 3D Printing ETF (BATS:PRNT). The positive outlook for Proto Labs could indirectly benefit PRNT, given its exposure to the digital manufacturing sector.
As PRNT holds shares of Proto Labs, positive news for PRLB could lead to a modest increase in PRNT's value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50