Jefferies Reiterates Monotype Imaging Buy
Jefferies reiterated its Monotype Imaging (TYPE) Buy rating in a research report published today. Jefferies has previously given Monotype Imaging a $17 price target.
In the report, Jefferies states, "We reiterate our BUY rating on TYPE following a solid 2Q11 report, 3Q11 guidance ahead of expectations, and an improved CY11 outlook (NG EPS ahead of us/consensus). Revised CY11 guidance reflects mgmt's optimism around key growth initiatives and the expectation that Japan only has a modest negative impact. We continue to believe TYPE has good growth prospects and valuation is attractive given the growth/margin profile."
Shares of Monotype Imaging closed today at $13.70, up 5.30% from Thursday's market close.
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