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

February 1, 2013 12:03 PM EST Send to a Friend
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Price: $30.34 +1.37%

Rating Summary:
    8 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 14 | New: 38
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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.




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