Desktop Metal to face more competition from GE, says Lake Street - InvestingChannel

Desktop Metal to face more competition from GE, says Lake Street

Lake Street analyst Troy Jensen said his talks with industry contacts and information on General Electric’s (GE) website lead him believe the company will be launching a metal powderbed 3D printer in “the near future,” which he sees creating more competition for Desktop Metal (DM). Jensen, who anticipates a formal launch could happen at an industry tradeshow in the second half of this year, believes this could be detrimental to Desktop Metal’s growth given that GE is already a leading supplier of metal 3D printers, has a large and established sales and distribution network, and a “significant” R&D budget. He reiterates his Sell rating and $11 price target on Desktop Metal shares.