GSI Commerce Inc (GSIC) Maintains A Buy Rating

Analyst Shawn Milne at Janney Capital Markets continues to remain positive on GSI Commerce Inc (NASDAQ: GSIC).Analyst Shawn Milne at Janney Capital Markets continues to remain positive on GSI Commerce Inc (NASDAQ: GSIC). Based on a stronger than expected Holiday sale and improving competitor growth outlook, the analyst has raised the Q4 and FY10 EBITDA estimates for GSI Commerce Inc to $72M and $143M from $70M and $133M and FY10 FCF target to $1.50/share from $1.40.

FCF growth over the next 2-3 years for GSI Commerce Inc is expected to be around 25% driven by: 1) growth in core E-commerce services including new partners and improved competitor growth; 2) rapid growth in Interactive Marketing Services (IMS); 3) International expansion; and, 4) incremental contribution from Consumer Engagement services (Rue La La).