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Technology Stocks : Shutterfly
SFLY 50.970.0%Sep 25 5:00 PM EST
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To: Done, gone. who wrote (72)9/20/2007 5:15:41 PM
From: Uncle Frank   of 82
 
Shutterfly ROCKS!

AP
Sector Glance: Online Retail Mixed
Thursday September 20, 4:28 pm ET
Online Retailers Trade Mixed; Shutterfly Hits New High As Analyst Starts Coverage at 'Buy'

NEW YORK (AP) -- Shares of online retailers traded mixed Thursday, with online photo service Shutterfly Inc. rising to an all-time high after an American Technology Research analyst began coverage of the stock with a "Buy" rating.

Shutterfly shares hit a new high of $31.10 in intraday trading. Since last September when Shutterfly had its initial public offering, shares have traded between $12.05 and $29.75.

In a note to clients Thursday, American Technology analyst Brad Manuilow began covering the stock with a "Buy" rating and $36 price target, saying the company benefits from growth of digital camera sales and personalized content creation, as well as an increase in broadband Internet adoption.

He added, "We believe Shutterfly's existing markets are under-penetrated, while new markets that leverage existing manufacturing capacity and the core digital photo asset offer high-margin revenue opportunities."

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I just wish they'd create some options chains for sfly, so I could write covered calls against my long position.
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