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Fly News Breaks for December 12, 2018
SFLY
Dec 12, 2018 | 08:07 EDT
Baird analyst Colin Sebastian maintained a Neutral rating on Shutterfly but cut his price target to $55 from $70. In a research note to investors, Sebastian says that promotions recently returned to historical norms following higher level of discounting on core products compared with last year, from Cyber Week through early December. Specifically, he notes that that a brief website disruption extended the length of Shutterfly's most aggressive 60% off promotion by several days.
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