UPDATE: Credit Suisse Initiates Constant Contact at Outperform

Credit Suisse initiated coverage on Constant Contact

at an Outperform rating and a $24 price target. Credit Suisse wrote, “We believe that CTCT, rather than just delivering e-mail marketing solutions, is evolving into a multichannel engagement marketing platform vendor. Due to the company's expansive 510,000 SMB customer base, we think CTCT has unique insight into small business needs; we believe the company can leverage this domain expertise to become the leading platform for small business engagement marketing.” Constant Contact closed at $18.62 on Friday.