Topeka Capital Upgrades Shutterfly Inc. (SFLY) to Buy

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January 4, 2013 8:12 AM EST
Get Alerts SFLY Hot Sheet
Price: $50.97 --0%

Rating Summary:
    4 Buy, 13 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 9 | New: 13
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Topeka Capital upgraded Shutterfly Inc. (NASDAQ: SFLY) from Hold to Buy with a price target of $40.00 citing a relatively benign competitive environment in 4Q12.

"We believe that the past promotional period is indicative of what we can expect going forward. In addition, we now have greater confidence in the management team, believe that current competitors will continue to struggle to achieve sustained profitability, and see the Company exceeding 4Q12 consensus revenues and Adjusted EBITDA estimates."

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 $31.69 yesterday.

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