Piper Jaffray Maintains Overweight Rating and $68 PT on Coinstar

A report from Piper Jaffray reiterates its Overweight rating and $68 price target on Coinstar CSTR. In the report, Piper Jaffray writes, “Several recent data points suggest Netflix DVD-by-mail price changes are benefiting Redbox's DVD kiosk business. Most recently we have seen redbox.com website traffic accelerate in the month of July, when Netflix announced the price changes, and again in the month of Sept., when the price changes took effect… Coinstar remains our top small cap pick and we expect Redbox usage will benefit from Netflix changes starting in the Dec-11 quarter”. Coinstar closed yesterday at $49.84.