Jefferies Raises SFLY Target To $37 From $35

For Shutterfly, Inc. SFLY, Jefferies is expecting strong 4Q results with healthy double-digit Y/Y revenue growth, as the company benefits from a pick-up in consumer discretionary spending and expanded product offering. “We're tweaking our estimates upward and raising our PT to $37 from $35,” Jefferies writes. Shutterfly currently trades at $32.95.