Thursday, September 04, 2014 8:15:50 AM
Sep 04, 2014 06:46:00 (ET)
6:46 EDT - Arguing there's increased execution risk now, Pacific Crest downgrades 3D Systems (DDD) to sector perform. "We think investing for vision without strong execution is a recipe for perpetual disappointment." The investment bank is worried the 3-D printer maker is "stretch[ing] itself too thin, too fast." Pacific Crest notes while "we see a lot of potential in certain programs...we have seen many red flags emerge this year, including a prolonged CFO search, a botched Cube launch, inventory-management problems and margin degradation. Recent acquisitions spread the company even thinner as it tries to be all things 3D printing rather than focusing on core competencies." DDD is down 2.4% premarket at $50.60 after having already dropped 3.1% this week to put 2014's tumble at 44%. (kevin.kingsbury@wsj.com; @kevinkingsbury)
(END) Dow Jones Newswires
September 04, 2014 06:46 ET (10:46 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.
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