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UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Raises PT on Shutterstock on Solid Beat

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In a report published Friday, Cantor Fitzgerald reiterated its Buy rating on Shutterstock (NYSE: SSTK), and raised its price target from $30.00 to $32.00.

Cantor Fitzgerald noted, “Strong execution amidst secular growth in demand for stock imagery is driving better than expected performance for Shutterstock across virtually all metrics. We view this trend as sustainable in the near/medium-term, given the company's improving competitive position and are reiterating our BUY rating. We're raising our PT to $32 from $30.”

Shutterstock closed on Thursday at $28.05.

Latest Ratings for SSTK

DateFirmActionFromTo
Jul 2015Morgan StanleyInitiates Coverage onUnderweight
Jun 2015RBC CapitalMaintainsOutperform
May 2015Topeka CapitalInitiates Coverage onBuy

View More Analyst Ratings for SSTK
View the Latest Analyst Ratings

Posted-In: Cantor FitzgeraldAnalyst Color Price Target Analyst Ratings

 

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