Voxeljet price target lowered to $6 from $8 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Voxeljet to $6 from $8 and keeps a Buy rating on the shares. Voxeljet posted Q4 revenue of EUR 10.8M, a 1% of year-over-year decline, but exceeded the firm’s estimate of EUR8.7M, the analyst tells investors in a research note. Systems revenue decreased by about 4% year-over-year while Services increased by 11%, the firm says, adding that management said that the supply chain is improving and that lead times are visible but are still quite long and that certain materials need to be sourced well in advance.