Susquehanna Maintains a 'Positive' Rating on GSI Commerce (GSIC); Raises Price Target

June 15, 2009 9:52 AM EDT

Susquehanna maintains a 'Positive' rating on GSI Commerce (Nasdaq: GSIC), raises price target to $19.

Susquehanna analyst says, "To date, GSI has nicely weathered the difficult economic environment thanks to: (1) countercyclical demand for outsourced eCommerce services from new and existing clients chasing growth online; and (2) accelerating demand for complementary interactive marketing services. The strength of these dual growth engines was visible in 1Q09 results and suggests guidance for a deceleration in growth and profitability in 2Q09 should prove too conservative. Exiting the recession, we see considerable leverage from recent client wins (five year-to-date with year-end targets of 8+ likely met by 2Q09/3Q09), ongoing cross-sales of interactive marketing, and international expansion."

To see more analyst ratings on GSIC Click Here.

GSI Commerce, Inc. is a provider of e-commerce and interactive marketing services to large businesses that sell products directly to consumers (b2c).

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