The Knot: Susquehanna Upgrades on Improved Local Ad Outlook
The Knot (KNOT) shares are trading higher this morning after Susquehanna Financial Group analyst Malindi Davies upgraded shares of the online wedding site to Positive from Neutral, setting a $9 price target.
“The risk/reward balance for KNOT has improved over the last few months, in our view,” Davies writes in a research note. “We are upgrading based on expectations that the local business should improve given a recent reorganization and platform upgrades. We believe the Macy’s overhang is well understood and see opportunities in registry and China longer term.” Davies notes that she sees “an improved outlook for local advertising.”