Morgan Keegan Believes The Shift Toward Higher AOV Print Products Is Beneficial To Shutterfly

Analysts at Morgan Keegan reiterate their "market perform" rating on Shutterfly Inc SFLY. The target price for SFLY is set to $26. Morgan Keegan says, “Our review of online photo sites in Aug. found modest promotional activity by Shutterfly in photo books, which we view as seasonally normal. Long term, we believe the shift toward higher AOV print products is beneficial to Shutterfly….Photo book promotions appear consistent with seasonality as Shutterfly typically makes pricing more attractive around holiday and vacation periods.” “4x6 pricing was essentially unchanged across vendors, lending further support to the view price points have bottomed….We believe Shutterfly boasts a strong management team and superior photo platform, and would look to get more aggressive on pullbacks and signs of share gains/diminishing competition,” the analysts add. More Analyst Ratings here