Fly News Breaks for September 4, 2019
STMP
Sep 4, 2019 | 06:31 EDT
Roth Capital analyst Darren Aftahi upgraded Stamps.com to Neutral from Sell and raised his price target for the shares to $52 from $32. The stock closed Tuesday at $64.20. Following a round of channel checks with United State Postal Service ecosystem participants, the analyst believes more favorable rate cards for resellers could continue into 2020. As a result, he has a slightly more favorable view of Stamps.com's 2020, with raised revenue and adjusted EBITDA estimates. His upgrade to Neutral reflects his belief that Stamps.com's risk profile "has been mitigated somewhat."
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