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UPDATE: Morgan Stanley Maintains Overweight, Lowers PT to $40 on Shutterfly

Morgan Stanley reiterates its Overweight rating on Shutterfly (NASDAQ: SFLY) but lowers its price target to $40 on short-term competitive headwinds.

Morgan says, “Upon revisiting the structural story, we remain Overweight but lower our price target to $40. Short-term competitive headwinds may potentially limit intrinsic value realization.”

SFLY closed at $24.67 per share on Tuesday.

Posted-In: Morgan StanleyAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

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