UPDATE: Benchmark Lowers Valassis Communications' PT

According to a research report published this morning, Benchmark has lowered Valassis Communications'

PT from $29 to $25. In the report, Benchmark said, "Management expects renewed growth in Shared Mail as the 1Q weakness was attributed mainly to a cutback by one large CPG customer and early indications show signs of recovery. This is expected bring Shared mail back on track with a 3% revenue increase in 2Q12. Management expects continued y/y growth in Shared mail in 2H12 to lead the Company's performance in 2012, achieving 3% revenue growth and EPS of $3.07 as previously projected." Benchmark maintains its Buy rating on Valassis, which is currently trading at $19.98.