JPMorgan upgraded Xometry (XMTR) to Overweight from Neutral with a price target of $45, up from $25. Xometry is the leading marketplace for custom manufacturing, a $2 trillion industry early in the shift online, the analyst tells investors in a research note. The firm is turning bullish now as it expects the company’s share gains to accelerate in an environment with tariff and supply chain uncertainty. This is combined with company-specific growth initiatives and a turn in recent macro indicators, adds JPMorgan. It believes Xometry is one of the best secular growth stories across its small cap internet coverage universe over the next three to five years.
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Read More on XMTR:
- Xometry continues rapid expansion of global supplier base
- Xometry management to meet with JMP Securities
- Xometry price target raised to $42 from $34 at JMP Securities
- Xometry price target raised to $22 from $20 at UBS
- Xometry price target raised to $30 from $20 at Craig-Hallum
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
