Fly News Breaks for August 8, 2019
Aug 8, 2019 | 07:53 EDT
As previously reported, Craig-Hallum analyst George Sutton upgraded Stamps.com to Buy from Hold and raised his price target on the shares to $60 from $48. While based largely on sentiment, along with an appreciation of the Stamps.com position within the e-commerce ecosystem, the analyst senses "key directional improvements" that give him enough enthusiasm to re-endorse the stock. First, he notes that reseller negotiations have largely been pushed out through the end of the year and the focus appears to be turning away from an administrative cost-based objective back to a business-like appreciation of the high fixed, low variable cost model and the attractive economics brought in under this program. Second, negotiations with the other large carrier partners appears to be moving in a favorable direction, Stutton adds.
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