UPDATE: Piper Jaffray Reiterates Overweight Rating, Raises PT on HSN

In a report published Wednesday, Piper Jaffray & Co. reiterated its Overweight rating on HSN (NASDAQ: HSNI), and raised its price target from $64.00 to $80.00.

Piper Jaffray noted, “HSN launched a comprehensive redesign of its customer interface across all of its digital platforms yesterday, further cementing HSN's position as a leading innovator of customer-facing e-commerce and m-commerce technology. Further adding to our conviction is a new partnership announced by Panasonic on Monday in which HSN will become part of its Viera Connect suite. We are raising our price target from $64 to $80 given increased confidence in HSN's ability to leverage its best-in-class transaction technology and commercial content into a sustainable high earnings growth rate.”

HSN closed on Tuesday at $57.69.