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Protolabs price target raised to $51 from $50 at Cantor Fitzgerald

Cantor Fitzgerald analyst Troy Jensen raised the firm’s price target on Protolabs (PRLB) to $51 from $50 and keeps an Overweight rating on the shares. Proto Labs reported better-than-expected revenue and adjusted EPS, and management guidance for Q3 for revenue and adjusted EPS were above consensus estimates, the analyst tells investors in a research note. Proto Labs continues to be one of the most profitable service bureaus, and the stock could outperform if management can effectively cross-sell its Network offering with existing customers and drive higher levels of profitability, Cantor argues.

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