Xometry price target raised to $45 from $40 at Citizens JMP

Citizens JMP raised the firm’s price target on Xometry (XMTR) to $45 from $40 and keeps an Outperform rating on the shares after assuming coverage of the name. Xometry is improving the custom manufacturing market by reducing friction between buyers and manufacturers, and with growing international reach and instant quote coverage across more categories, Xometry has reached an exit velocity, where its scale can continue to drive share gains across the $2T manufacturing market, the analyst tells investors in a research note.