0038 GMT - U.S. efforts to re-shore industrial capabilities and bolster supply-chain resilience help secure a new bull for Australian 3D printer AML3D. Shaw & Partners analyst Abraham Akra initiates coverage of the stock with a buy rating, telling clients in a note that AML3D's blue-chip client base and position with U.S. Navy supply chains are particularly exciting. Akra says that Europe looks like AML3D's next growth market after the U.S., while the company's shift to a recurring-revenue model enables larger contracts, stable revenues and predictability. Shaw & Partners places a A$0.40 target price on the stock, which is up 2.4% at A$0.215. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 08, 2024 19:38 ET (00:38 GMT)
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