Shutterfly Inc. (SFLY) PT Lowered to $46 at Jefferies

Jefferies lowered its price target on Shutterfly Inc. (NASDAQ: SFLY) to $46.00 (from $52.00) while maintaining a Hold rating.

Analyst Brian Fitzgerald commented, "SFLY announced re-structuring bringing brands Tiny Prints and Wedding Paper Divas under core SFLY Brand (along with shuttering smaller business lines). Maintain Hold and lower PT to $46."

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