Stifel Nicolaus upgrades Constant Contact CTCT to Buy from Hold and establishes a price target of $33 on shares.
Stifel Nicolaus notes, "We believe CTCT is quickly becoming the small business marketing platform of choice, as recent product introductions and upcoming releases have enabled it. to move well beyond its e-mail marketing roots. In the coming years, we believe CTCT's suite of products will become as important to the marketing efforts of a small business as QuickBooks is to the financial health of these small organizations. The net result of management's expanded product vision and
international expansion should be a healthy reacceleration in net new customer additions by the back-half of 2012, ongoing gains in ARPU, and reduced churn in coming quarters."
CTCT closed at $22.61 on Thursday.
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