UPDATE: Canaccord Genuity Starts Borderfree, Inc. (BRDR) at Buy

(Updated - April 15, 2014 11:39 AM EDT)

Canaccord Genuity initiated coverage on Borderfree, Inc. (NASDAQ: BRDR) with a Buy rating and a price target of $18.00.

Analyst Michael Graham said “As US brands seek e-commerce expansion overseas, Borderfree's platform offers a robust, low-risk solution to quickly present a localized storefront to international shoppers and to efficiently fulfill resulting orders. Borderfree's software and shipping assets solve “start-up” problems for these brands, and over time the company should be able to build a marketing and fulfillment platform that provides collective scale benefits that lone brands may not be large enough to realize.”

“We see a growth opportunity that, while “only” in the 25% range (based on our estimates, which we believe may prove conservative), should extend for a long period given the nascence of cross-border e-commerce," he added.

For an analyst ratings summary and ratings history on Borderfree, Inc. click here. For more ratings news on Borderfree, Inc. click here.

Shares of Borderfree, Inc. closed at $14.43 yesterday.

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