UPDATE: Jefferies Drops PT to $16 on Monotype Imaging Holdings

Jefferies lowers its price target $1 to $16 on Hold-rated Monotype Imaging Holdings

following the company's 10-K release. Jefferies says, "New Information: Low. We have updated our model to reflect the detailed Cash Flow breakout provided in the 10-K. During CY11, international revs were 54% of total (v 63% in CY10) and the US was the strongest growing region. Incremental tidbits are below. Our thesis on the stock is unchanged." TYPE closed at $13.75 a share yesterday.