In a report published by Morgan Keegan, Tiny Prints is very much a complementary acquisition for Shutterfly SFLY, with opportunities to cross sell into both companies' customer bases (~5M in aggregate) and improve margins.
Morgan Keegan said that it's raising its price target to $50. “SFLY trades at 12x '12E non-GAAP EBITDA. We continue to find shares attractive at these levels.”
Shutterfly closed yesterday at $43.03.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsConsumer DiscretionaryInternet RetailMorgan Keeganshutterfly inc.
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