Price Target Raised For KNOT

JP Morgan published a research report for The Knot, Inc. (NASDAQ: KNOT) following Investor Day in New York.

In the report, JP Morgan writes "Discussion focused on growth strategy, Local online initiatives, National ad trends, Gift Registry, and China expansion. There was little detail on near-term results or LT objectives—but management sees potential over time to return to 2007's peak EBITDA margin of 25% (v. ~10% in 2010E)."

JP Morgan maintains its Neutral rating but raises the price target from $7 to $8.

The Knot, Inc. closed yesterday at $8.83.