UPDATE: Jefferies Raises PT to $17 on Monotype Imaging Holding
Jefferies raises its price $1 to $17 on Monotype Imaging Holding (NASDAQ: TYPE) on BITS acquisition updates.
Jefferies says, "We raise ests and PT on TYPE following the close of the BITS acqn. The strategic rationale is compelling as BITS' assets are complementary, help TYPE expand its TAM and diversify revs, and expands offshore development capabilities. We maintain our HOLD given our views on the printer market coupled with valuation."
TYPE closed at $15.26 a share on Tuesday.
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