Wedbush Has Outperform On GSI Commerce (GSIC)

Wedbush Morgan has an Outperform rating and a $33 price target on shares of GSI Commerce GSIC. In a note to clients, Wedbush writes, "Negative impact from a canceled NFL season not as bad as expected. Management's FY11 ecommerce revenue guidance was purposely conservative to account for possible disruption to the NFL season and estimates a $5-10 million impact to NGIO if there is no NFL season. We estimated the negative impact to be $22 million (figure 2). We believe the difference between our and management's estimate is the financial relief that GSI could receive from the NFL for a canceled season. We believe a full NFL season could lead to upside." Shares of GSIC gained 50 cents on Friday to close at $19.29, a gain of 2.66%.