UPDATE: Monness Crespi Hardt Downgraded Shutterfly to Neutral on Valuation
January 22, 2013 at 12:42 PM EST
Monness Crespi Hardt downgraded Shutterfly (NASDAQ: SFLY ) from Buy to Neutral. Monness Crespi Hardt commented, "We are downgrading SFLY shares because: 1) Shares have appreciated by 32% since our February 2nd, 2012 upgrade in part because the company has consistently exceeded low revenue and profitability expectations it set a
