JPMorgan boosts unique, AI-related stock, sees more than 20%.
Shares of Xometry may be poised for further gains in the coming months, according to JPMorgan. Analyst Cory Carpenter upgraded the artificial intelligence-powered industrial market to overweight from neutral, raising his price target by $20 to $45. That revised target reflects a 21% upside from Tuesday’s close. “We are now pivoting as we expect XMTR’s profits to grow rapidly in an environment of tax/procurement uncertainty, combined with company-specific growth initiatives (ie, business, express quote, international), changes in recent indicators (ie, ISM new orders, sentiments of small businesses), there is likely to be a more global push under new management, and improved performance under CFO James Miln offers many ‘win-wins’ in 2025, “said an analyst wrote to clients on Wednesday. XMTR 1Y mountain Xometry, 1 year Looking ahead to next year, Carpenter predicts that the company’s total revenue growth will increase to 19%, which is about 2% from 17% growth in 2024. He also noted that the company expects to post well-adjusted EBITDA this year, seeing margins rise about 20% from there. “We believe that XMTR is one of the best growth stories for our entire country over the next three to five years, with the biggest risks in 2025 being another contract in the US manufacturing industry and limited support for valuations,” Carpenter said. Wall Street is very popular in the name as well. Among the 10 analysts covering it, six have a strong buy or buy rating, according to LSEG data. Meanwhile, three have a catch rate. Xometry provides on-demand manufacturing of industrial parts using 3D printing and other technologies. It uses AI in its pricing engine. Although shares are up just over 3% this year, they have outperformed the broader market in recent months, seeing a one-month gain of more than 25% and a six-month gain of more than 196%. After Carpenter’s call, the stock rose nearly 4% in premarket trading on Wednesday.
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