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Fly News Breaks for October 31, 2018
SFLY
Oct 31, 2018 | 07:21 EDT
SunTrust analyst Youssef Squali lowered his price target on Shutterfly to $90 after its mixed Q3 results of a better than expected EBITDA and a top-line miss. The analyst notes that the reduction in free promotion continued to weigh on sales and also hurt the outlook for Q4. Squali keeps his Buy rating on Shutterfly longer term, citing the management's plans to refresh the company's slate of promotions and the impact of LifeTouch acquisition.
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