UPDATE: Cantor Fitzgerald Reduces PT to $43 on VistaPrint on Europe Headwinds to Growth
Cantor Fitzgerald reiterated its Buy rating on VistaPrint (NASDAQ: VPRT) but lowered its price target from $46 to $43.
Cantor Fitzgerald noted, "We're lowering our PT to $43 (from $46) on a weaker-than-expected growth forecast, but we're maintaining a BUY to reflect: a) improving growth outlook in North America, b) very early signs of improvements in Europe, and c) our view that much of the downside-risk is priced into the stock and that expectations have been adjusted to more realistic levels."
VistaPrint closed at $29.98 on Friday.
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