Morgan Stanley Sees an Improving Story Book for Shutterfly
In a report published Thursday, Morgan Stanley analyst Scott Devitt reiterated an Equal-Weight rating on Shutterfly (NASDAQ: SFLY).
In the report, Morgan Stanley noted, “Shutterfly delivered a Q4 beat vs. guidance and Street estimates. Shutterfly guided 2014 inline with expectations but Q1 guidance fell below the Street, as investments hit earlier than expected. 2014 is a ‘building' year, but we believe the business remains on a stable and positive track.”
Shutterfly closed on Wednesday at $49.67.
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