Baird Maintains an 'Outperform' on Shutterfly Inc. (SFLY); CFO Departure a Loss, but Not a Game Changer

Baird maintains an 'Outperform' on Shutterfly Inc. (NASDAQ: SFLY) price target of $44.00.

Baird analyst says, "CFO loss doesn't change our Outperform rating: We view the departure of CFO Mark Rubash as an unfortunate loss, but not a game-changing situation for Shutterfly, which remains under the strategic leadership of CEO Jeff Housenbold. We continue to expect initial 2012 guidance below consensus targets, although at current valuation levels we believe this is largely contemplated by investors, and longer-term focused investors can use a pullback opportunistically."

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

Shares of Shutterfly Inc. closed at $24.06 yesterday.

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