Jefferies Reiterates Buy On Monotype Imaging (TYPE)

Jefferies maintained its Buy rating on Monotype Imaging TYPE in a research paper published today. In the report, Jefferies states, "TYPE beat 1Q11 expectations, guided 2Q11 ahead of Street and maintained prior CY11 guidance. Given concerns around the impact of Japan to guidance, this is a positive result, in our view. We reiterate our Buy." Jefferies has its price target on Monotype set at $16. Monotype gained 2.25% today to trade at $13.16.