In a report published on Wednesday, Topeka Capital Markets analyst Victor Anthony raised the price target on Shutterfly SFLY from $54 to $62 while maintaing a rating on the company of Buy.
In the report, Topeka Capital Markets stated, "We believe that Shutterfly is operating in a new paradigm in which the competitive environment over the past 9 months, while remaining intense, has become more rational. This is a meaningful positive for the industry, and importantly for Shutterfly, as the market leader."
Shutterfly closed on Tuesday at $53.39.
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