Market Overview

UPDATE: Topeka Capital Markets Reiterates Buy Rating, Raises PT on Shutterfly on 4Q12 Beat

Share:
Related SFLY
The Market In 5 Minutes: The Madness Continues
Wall Street Unsure What New Shutterfly CEO Means For M&A Chatter

In a report published Wednesday, Topeka Capital Markets reiterated its Buy rating on Shutterfly (NASDAQ: 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.

Latest Ratings for SFLY

DateFirmActionFromTo
Apr 2016Goldman SachsMaintainsNeutral
Apr 2016BarclaysMaintainsEqual-weight
Feb 2016Bank of AmericaDowngradesBuyNeutral

View More Analyst Ratings for SFLY
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (SFLY)

View Comments and Join the Discussion!