Shutterfly Retains Buy Rating (SFLY)

Jefferies & Co. has reiterated its Buy rating for Shutterfly Inc.

. The company has been given a price target of $28 to reflect improvement in its business and the increase in its competitive position within the segment. Its management has presented a positive view about its future growth. Although consumer recovery is fragile, the company has seen no negative impact from the recent market turmoil. Management expects its business to grow by 20% to 30% per annum in the near future. The company is also likely to benefit from its new facebook integration feature. Shutterfly, Inc. (

) is an Internet-based social expression and personal publishing service that enables consumers to share, print and preserve their memories, through its technology, manufacturing, Web-design and merchandising capabilities.