UPDATE: Stifel Nicolaus Raises PT to $14 on XO Group

Stifel Nicolaus increases its price target on Buy-rated XO Group

to $14 from $12 on continued margin expansion and major share buyback. Stifel Nicolaus says, "XO Group (aka The Knot to old-timers) reported very good 4Q11 results; revenue growth of 12.4%; and strong profit driven by operating leverage, solid expense control, and share repurchases. Challenging IT system upgrades completed in 2010 are driving margin expansion; 4Q11 adjusted EBITDA margins of 24.1% were the highest since 2007. We raise our target price to $14 to reflect expected continued margin expansion through 2013." XOXO closed at $9 on Thursday.