UPDATE: DA Davidson Upgrades ChannelAdvisor (ECOM) to Buy

(updated to add analyst comment)

DA Davidson upgraded ChannelAdvisor (NYSE: ECOM) from Neutral to Buy with a price target of $11.50.

Analyst Tom Forte sees multiple catalysts on the horizon and believes the stock is attractively priced. The catalysts he sees are:

1. management’s strategy on focusing on larger clients for its platform, which we anticipate will results in sales growth accelerating in 2018 (we are forecasting 9.0% vs. 8.0% in 2017);
2. sales upside following the 2Q17 acquisition of HubLogix to advance its logistics efforts (an area of increasing significance in e-commerce); and
3. faster-than-expected growth from its China-exports related efforts (4% of sales in 3Q17 vs 3% of sales in 3Q16).

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

Shares of ChannelAdvisor closed at $9.00 yesterday.

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