Jefferies Raises SFLY Target To $37 From $35

For Shutterfly, Inc. (NASDAQ: SFLY), Jefferies is expecting strong 4Q results with healthy double-digit Y/Y revenue growth, as the company benefits from a pick-up in consumer discretionary spending and expanded product offering.

“We're tweaking our estimates upward and raising our PT to $37 from $35,” Jefferies writes.

Shutterfly currently trades at $32.95.