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Fly News Breaks for February 1, 2019
CMPR
Feb 1, 2019 | 15:41 EDT
Barrington analyst Kevin Steinke maintained an Outperform rating on Cimpress, saying the market opportunity in the name was still intact, but the analyst lowered his price target on shares to $100 from $135 after weaker than expected Q2 revenues and reduced Vistaprint revenue growth outlook. He views Vistaprint's reduced outlook as "largely a conscious management decision to slow growth while operational issues are addressed" and is "encouraged by continued sales growth for small business products, indicating that demand remains solid." After Thursday's 28% pullback, Steinke sees Cimpress as attractive for patient investors.
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