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Fly News Breaks for February 20, 2020
STMP, UPS
Feb 20, 2020 | 08:59 EDT
Craig-Hallum analyst George Sutton raised his price target for Stamps.com (STMP) to $150 from $115 as he believes it should return to growth and investable status for many investors now that the long-feared renegotiation of the reseller program is completed. With the combination of the stability that the new contracts provide and the ramp of its UPS (UPS) relationship this quarter as well as several other key partnerships, the analyst believes the company's status as a key player in the growing e-commerce shipping landscape is confirmed. He has a Buy rating on Stamps.com shares.