Shutterfly (SFLY) Sell-Off on Amazon Prints Creates Buying Opportunity - RBC
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RBC Capital analyst Andrew Bruckner is the latest to defend Shutterfly Inc. (NASDAQ: SFLY) after yesterday's sharp sell-off after Amazon Prints went live.
"We think this is a near-term overhang on SFLY but don’t see the current product as a L-T competitive threat," Bruckner said. "SFLY's negative move yesterday seems overdone and creates a buying opportunity."
The firm maintained an Outperform rating and price target of $57 on SFLY.
Shares of Shutterfly Inc. closed at $44.20 yesterday.
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