Information Provided By:
Fly News Breaks for June 11, 2019
SFLY, APO
Jun 11, 2019 | 08:01 EDT
As previously reported, KeyBanc analyst downgraded Shutterfly (SFLY) to Sector Weight from Overweight after the company board agreed to the proposed acquisition by Apollo Global (APO). The analyst thinks Apollo can move quickly to monetize synergies, particularly with synergies from Snapfish. Given that Shutterfly ran a public and complete process, the stock should move to the proposed deal price, he contends.