3D Systems price target raised to $4 from $3 at Craig-Hallum

Craig-Hallum raised the firm’s price target on 3D Systems (DDD) to $4 from $3 and keeps a Hold rating on the shares. 3D Systems announced the sale of its Geomagic software portfolio for $123M to Hexagon, representing a more than 4x revenue multiple for the asset, a compelling valuation and alleviating what was becoming a growing balance sheet concern, the analyst tells investors in a research note. The firm is “pleased” management is taking steps to unlock shareholder value as divesting the Geomagic asset allows a reallocation of resources.