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Fly News Breaks for January 4, 2019
QRTEA, SFLY
Jan 4, 2019 | 07:01 EDT
KeyBanc analyst Edward Yruma upgraded Shutterfly (SFLY) to Overweight from Sector Weight with a $55 price target, telling investors in a research note that valuation is "compelling" despite concerns about the promotional environment that have materialized. He thinks that Lifetouch will help drive new customer growth at Shutterfly and believes $50M in merger synergies will materialize. While upgrading Shutterfly, the analyst downgraded Qurate Retail (QRTEA) to Sector Weight from Overweight.
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