Morgan Keegan Maintains Outperform on Shutterfly (SFLY)

Morgan Keegan is out with its report today on Shutterfly SFLY, maintaining Outperform. In a note to clients, Morgan Keegan writes, "Shutterfly's superior online photo platform and ongoing innovation in photo services position the company to take meaningful share as photo services and other print products transition from offline to online channels (~$12B opportunity). The recent acquisition of Tiny Prints (dominant online print company) greatly strengthens Shutterfly's product depth, eliminates a key competitor, and introduces meaningful opportunities for revenue and cost synergies." Morgan Keegan has a $65 PT on SFLY. Shares of SFLY closed Friday at $61.56.