Cantor Fitzgerald sets $1.45 target on Markforged shares

Tuesday, Cantor Fitzgerald initiated coverage on Markforged Holding Corp. (NYSE:MKFG) with an Overweight rating and set a 12-month price target of $1.45. The firm highlighted the company’s unique product offerings, including its continuous carbon fiber printers, metal binder jetting technology, and the Digital Forge software platform as key differentiators in the market.

Markforged’s advanced hardware and software capabilities have positioned it to outperform other public competitors in the polymer-based 3D printing sector, particularly in production applications. The company’s focus on production has enabled it to generate more sales from these applications than any of its peers.

The firm’s positive outlook on Markforged is also influenced by several factors that suggest an optimistic future for the company. These include new product cycles, a buildup of demand as the year 2024 begins, an attractive valuation, and the potential for the company to become an acquisition target.

Cantor Fitzgerald’s recommendation to own shares of Markforged at the current valuation is based on these combined factors. The firm sees the company as well-positioned to benefit from both its innovative product lineup and the broader market dynamics.

The price target of $1.45 reflects Cantor Fitzgerald’s confidence in Markforged’s ability to capitalize on its strengths and the anticipated demand for its products. The Overweight rating suggests that the firm expects the company’s stock to perform better than the average stock within the analyst’s coverage universe over the next 12 months.

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