Jefferies Reiterates Monotype Imaging Buy

Jefferies reiterated its Monotype Imaging (TYPE) Buy rating in a research report published today. Jefferies has previously given Monotype Imaging a $17 price target. In the report, Jefferies states, "We reiterate our BUY rating on TYPE following a solid 2Q11 report, 3Q11 guidance ahead of expectations, and an improved CY11 outlook (NG EPS ahead of us/consensus). Revised CY11 guidance reflects mgmt's optimism around key growth initiatives and the expectation that Japan only has a modest negative impact. We continue to believe TYPE has good growth prospects and valuation is attractive given the growth/margin profile." Shares of Monotype Imaging closed today at $13.70, up 5.30% from Thursday's market close.