UPDATE: SunTrust Robinson Humphrey Downgrades VistaPrint On Valuation

In a report published Monday, SunTrust Robinson Humphrey analyst Robert S. Peck downgraded the rating on

from Buy to Neutral, but raised the price target from $63.00 to $67.00. In the report, SunTrust Robinson Humphrey noted, “We are lowering our rating to Neutral from Buy as the stock has reached our new price target of $67 (was $63). While the company recently reported a slight beat for F1Q15 (September), VPRT shares have appreciated >21%% and outperformed the peer group by ~21 points over the past month. We think investors have reassessed the story recently and investor sentiment has improved, with the stock having outperformed the Nasdaq by 17/33/54 points over the past 1/3/6 months. Thus at current levels we view valuation as more appropriate and risk/reward more balanced, warranting a Neutral-rating. We would look to get more constructive again on a pullback in the stock or more material evidence of progress in the company's turnaround.” VistaPrint closed on Friday at $67.41.