J.P.Morgan upgrades Xometry to 'overweight'

Xometry

18/12/2024 15:56

(Updates)
    ** Shares of AI-powered marketplace for manufacturing
resources Xometry  XMTR.O  up as much as 10.4% to $41.10;
highest since December 2022
    ** J.P.Morgan upgrades stock to "overweight" from "neutral"
and raises PT to Street-high of $45 from $25, citing many "ways
to win" in 2025
    ** Brokerage sees share gains accelerating with tariff,
supply chain uncertainty, turn in recent macro indicators and
potential for more of an onshoring push under new administration
    ** Company's preliminary 2025 forecast conservatively
assumes no macro improvement - brokerage
    ** XMTR is one of the best secular growth stories over the
next three to five years, with biggest risks in 2025 being
further contraction in the U.S. manufacturing industry and
limited valuation support - brokerage
    ** Seven of ten brokerages rate the stock "buy" or higher,
two "hold" and one "sell"; with a median PT of $30, according to
data compiled by LSEG
    ** Up to last close, stock up about 4% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))