UPDATE: Cantor Fitzgerald Initiates CafePress at Buy on Attractive Valuation

Cantor Fitzgerald initiated coverage on CafePress

with a Buy rating and a $12 price target. Cantor Fitzgerald commented, "CaféPress' differentiated and highly personalized yet scalable platform is transforming a segment that is fragmented, relatively low-tech and mostly offline. At $9.50, the stock trades at a compelling 0.7x revenue and 5.9x EBITDA, a 20%+ discount to our $12 fair value estimate estimate. … We estimate that CafePress can sustain revenue growth in excess of e-commerce, with EBITDA margin expanding into the high-teens longer-term. Strong consumer demand and increased operating leverage should yield a higher stock valuation over time." CafePress closed at $9.50 on Thursday.