Wedbush Reiterates an 'Outperform' on GSI Commerce (GSIC)
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Wedbush reiterates an Outperform rating on GSI Commerce (Nasdaq: GSIC), price target $25.
Wedbush analyst says, "Organic growth of 10-15% could prove FY10 revenue expectations conservative. Cost synergies related to the Retail Convergence acquisition, which have not been factored into FY10 expectations, should boost profitability...Blue-chip customer base continues to grow and outperform...International revenue should become a material contributor in FY10...Raising our FY10 estimate to reflect strength in ecommerce and Interactive Marketing, and acquisition cost synergies."
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