Why 3D Systems Stock Popped 11% on Monday

Shares of 3-D printer-maker 3D Systems (NYSE: DDD) popped nearly 11% in early trading on Monday, but were up just 1.3% as of 12:17 p.m. EST, after investment banker Piper Jaffray relented on its sell rating, and upgraded 3-D Systems stock to neutral.

Ordinarily, investors view an analyst upgrade as good news, and a good reason to bid up a stock. But the situation with 3D Systems stock is a bit different from the ordinary. For one thing, consider the share price.

Priced at $8.34 prior to Piper Jaffray's upgrade, 3D Systems stock jumped as high as $9.25 a share on the back of the upgrade. But here's the thing: Despite that upgrade, Piper Jaffray held its price target on 3D systems steady at $6.25 per share.

Source: Fool.com