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Fly News Breaks for May 4, 2018
STMP
May 4, 2018 | 09:28 EDT
Craig-Hallum analyst George Sutton raised his price target for Stamps.com to $260 from $240 and reiterated a Buy rating following a "solid" Q1 report that beat expectations. In a research note to investors, Sutton said the company is gaining traction in the Global Advantage program, which benefited results in Q1. Sutton also said he believes that Stamps.com is an undervalued stock relative to its position with outsized long-duration growth and sees valuation continuing to shift higher as the company further expands internationally and into additional carriers in the U.S. outside of the USPS.
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