UPDATE: Credit Suisse Initiates Constant Contact at Outperform

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Credit Suisse initiated coverage on Constant Contact (NASDAQ: CTCT) at an Outperform rating and a $24 price target.Credit Suisse wrote, “We believe that CTCT, rather than just delivering e-mail marketing solutions, is evolving into a multichannel engagement marketing platform vendor. Due to the company's expansive 510,000 SMB customer base, we think CTCT has unique insight into small business needs; we believe the company can leverage this domain expertise to become the leading platform for small business engagement marketing.”Constant Contact closed at $18.62 on Friday.

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