Oppenheimer Maintains Outperform on Constant Contact

Oppenheimer is out with its report today on Constant Contact CTCT, maintaining Outperform. In a note to clients, Oppenheimer writes, "Although the stock may remain under near-term pressure as CTCT enters its seasonally weak quarters (2Q/3Q), given the intrinsic value of its installed base (estimate could generate ~$2.00 in steady-state mode) and several catalysts on the horizon (social-media product, international expansion, etc.), we believe patient investors will be rewarded." Oppenheimer maintains a $40 PT on CTCT. Shares of CTCT closed Friday at $22.12.