UPDATE: Benchmark Raises PT to $27 on Valassis Communications on Shared Mail Catalyst
Benchmark reiterated its Buy rating on Valassis Communications (NYSE: VCI) and raised its price target from $24 to $27.
Benchmark noted, "For Valassis (VCI-Buy, PT from $24 to $27), expected growth in Shared Mail, the addition of Brand.net and the benefit of restructuring and cost reduction actions are expected to strengthen revenue in 2H12, leading to higher EPS and EBITDA. Shared Mail remains on track to achieve a 3% y/y revenue increase in 2012, reflecting favorable trends in the restaurant, grocery and telecom categories, which account for about 50% of annual volume."
Valassis Communications closed at $24.88 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.