Canaccord Genuity Says Constant Contact (CTCT) Qtr 'Respectable' But Won't Cause a 'Short-Covering Panic'

February 1, 2013 12:03 PM EST
Get Alerts CTCT Hot Sheet
Price: $32.01 --0%

Rating Summary:
    3 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade CTCT Now!
Join SI Premium – FREE
Canaccord Genuity lifted its price target on Constant Contact (NASDAQ: CTCT) from Q17 to $18 saying Q4 results were not as bad as feared.

The analyst comments, "CTCT's quarter was respectable across the board. Our guess is that the stock inches up a bit in the morning, but it probably won't cause a short-covering buying panic. Longer term, we believe there is a reasonable chance that the
stock will see our new target price of $18 as early as this summer, at which point we will make a fundamental "gut check" on our rating. Until then, we can at least relish in the fact that we didn't to do the classic sell-side move (of which we have sometimes been guilty) to downgrade the stock at a bottom in October."

For an analyst ratings summary and ratings history on Constant Contact click here. For more ratings news on Constant Contact click here.

Shares of Constant Contact are down 1.99 percent currently to $14.76.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Canaccord Genuity

Add Your Comment