Piper Jaffray Reiterates Overweight On Valassis Communications (VCI)

Piper Jaffray is reiterating its Overweight rating and $42 price target on shares of Valassis Communications VCI. In a note to clients, Piper Jaffray writes, "Following a day with management and investors in NYC yesterday, Jan. 20th, we are incrementally more positive on VCI's competitive positioning and 2011-12 growth prospects. Further, we believe a meaningful digital investment will find its place at the company in the near future, which in our view, is necessary to extend rather than defend the company's core mail/inserts business. We reiterate our OW rating and $42 PT." Shares of VCI lost 31 cents yesterday to close at $30.84, a loss of 1%.