BUZZ-J.P. Morgan upgrades Xometry to 'overweight'

Reuters12-18

BUZZ-J.P. Morgan upgrades Xometry to 'overweight'

** Shares of AI-powered marketplace for manufacturing resources Xometry XMTR.O up ~5% at $39 premarket

** J.P. Morgan upgrades stock to "overweight" from "neutral" and raises PT to Street-high of $45 from $25 on many "ways to win" in 2025

** 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

** Notes that co's preliminary 2025 outlook conservatively assumes no macro improvement

** Believes 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 U.S. manufacturing industry and limited valuation support

** Seven of ten brokerages rate the stock "buy" or higher, two "hold" and one "sell"; with a median PT of $30- data compiled by LSEG

** Up to last close, stock had risen ~4% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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