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Fly News Breaks for February 13, 2020
ECOM
Feb 13, 2020 | 09:26 EDT
B. Riley FBR analyst Zach Cummins raised his price target for ChannelAdvisor to $14 from $12 and reiterates a Buy rating on the shares. The analyst attributes yesterday's 19% share rally to the company's upside Q4 results and new strategic partnership with ShipStation. ChannelAdvisor's return to organic growth could facilitate further multiple expansion in coming quarters, Cummins tells investors in a post-earnings research note. He believes the company's "conservative" fiscal 2020 creates an attractive setup and reiterates a Buy rating on the shares.