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Fly News Breaks for February 2, 2017
SFLY
Feb 2, 2017 | 08:11 EDT
As previously reported, Baird analyst Colin Sebastian downgraded Shutterfly to Neutral from Outperform following Q4 results that were at the low end of guidance. He said the 2017 guidance reflect further management plans to simplify and consolidate their brand portfolio and his downgrade is in part due to the wait for more clarity on planned improvements to be revealed. Sebastian lowered his price target to $47 from $59 on Shutterfly, which was also downgraded this morning at Needham.
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