Arc Group World Wide Inc(NASDAQ:ARCW) shares spike after the company announces it has formed a 3D Material Technologies division which will utilize 3D printing, CNC machining, and MIM Technology to create prototypes for customers.The company notes its experience with FDM, SLS, and SLA 3D printing tech, and “views metal 3D printing as a significant area to build out its capabilities.”Brean Capital, which initiated shares at Buy with a $25 PT on Wed., raises its PT to $30 on the announcement, and believes shares could be worth upwards of $45-$50.Brean believes “ARCW is in an incredibly advantaged position to lead in metal 3D parts,” with the firm likening ARC’s new ops to 3D Systems’ Quickparts and Stratasys’s Redeye businesses.
The first investment is Boston’s One Financial Center, a 46-story Class A office building in the financial district in which Metlife Inc(NYSE:MET) already had an interest.The two plan to invest in Class A office properties in key U.S. markets “over an extended period.”
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