Piper Jaffray Overweight On Coinstar Inc. (CSTR)

Piper Jaffray has an Overweight rating and a $68 price target on shares of Coinstar Inc. CSTR after it reported earnings last week. In a note to investors, Piper Jaffray writes, "Our analysis shows solid box office revenue of DVDs released to Redbox in Q2, up 12% y/y (if Avatar is factored in as an average title in the year-ago quarter). The release slate also has fewer gaps in meaningful releases compared to Q1, but the titles released in the month of June are generally weaker (contributing 21% of quarterly box office revenue going to Redbox in Q2). Net-net, we believe the DVD release slate for Q2, after factoring in 28 day delayed titles, provides a slight tailwind to Coinstar's Redbox revenue in Q2." Shares of CSTR gained $2.57 on Friday to close at $53.98, a gain of 5%.