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Jefferies lowers its price target $1 to $16 on Hold-rated Monotype Imaging Holdings
TYPE following the company's 10-K release.
Jefferies says, "New Information: Low. We have updated our model to reflect the detailed Cash Flow breakout provided in the 10-K. During CY11, international revs were 54% of total (v 63% in CY10) and the US was the strongest growing region. Incremental tidbits are below. Our thesis on the stock is unchanged."
TYPE closed at $13.75 a share yesterday.
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