Baird Reiterates Outperform on Shutterfly (SFLY) Following Analyst Meeting
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Baird reiterated an Outperform rating and $59.00 price target on Shutterfly Inc. (NASDAQ: SFLY) following the company's analyst meeting. CEO, Mr. North indicated that he will build on Shutterfly’s existing strong brand and unique corporate culture, with a focus on generating long-term profitable growth.
Analyst Colin Sebastian commented, "While the event was neither heavy on details nor offered new financial targets, CEO Chris North clearly outlined his vision for the company, with a focus on operational excellence and delivering shareholder value (including higher levels of freecash flow.) In our view, Shutterfly remains an attractive and differentiated e-commerce model that benefits from scale, technology-orientation and a large competitive moat, making it unique among small/mid-cap Internet companies. Maintain Outperform."
Shares of Shutterfly Inc. closed at $51.03 yesterday.
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