3D Printer Stocks Surge After Statasys Upgrade

Shares of 3D printer makers Stratasys Ltd and 3D Systems closed higher Thursday after an analyst upgraded Stratasys and said he believes uncertainty for both market leaders "has likely peaked." Citigroup analyst Kenneth Wong upgraded Stratasys to buy from neutral, though he only maintained a 12-month target of $35 on the stock. Shares of Stratasys closed up 9.3% to $30.61 on Thursday, though they are off 69% from 12 months ago. Those of 3D Systems closed 16.2% higher to $13.60, but remain down 72% over the last 12 months. Both companies in their recent earnings reports pulled their fiscal 2015 outlooks citing uncertainties. But Wong said he thinks the worst is behind them, and that Stratasys in particular has zeroed in on the source of weakness and it working on corrective actions.