Loading...
Loading...
In a report published Wednesday, Topeka Capital Markets reiterated its Buy rating on Shutterfly
SFLY, and raised its price target from $40.00 to $45.00.
Topeka Capital Markets noted, “As expected, Shutterfly delivered a meaningful 4Q12 beat vs the TCM and Consensus estimates, supporting our view outlined in our January 4th note, that the competitive holiday environment was relatively benign, and that Shutterfly, with its innovative suite of product offerings, is taking share from profitability-challenged competitors. We are raising our year-end 2013 price target to $45 from $40 and reiterating our Buy rating on the shares. Catalysts include mobile penetration, further market consolidation, stronger than expected Enterprise growth, and uptake of new assets and initiatives including Treat and cloud offerings.”
Shutterfly closed on Tuesday at $33.59.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in