Piper Jaffray Reiterates Neutral Rating on Valassis Communications

According to Piper Jaffray, Valassis Communications VCI Neutral rating is maintained. Piper Jaffray said that VCI's FY12 guidance tomorrow morning will likely have a balance of pluses and minuses resulting in a neutral impact on the stock. “Maintain Neutral rating and $20 PT (reflecting 5.3x FY12E Adj. Cash EPS).” Valassis Communications closed on Friday at $21.36.