ZU: Zulily Stock Zooms on Goldman Upgrade
Strong customer growth prompted the rating boost
Shares of online retailer Zulily (ZU) jumped about 10% in Wednesday midday trading after a Wall Street investment bank raised its outlook for Zulily stock.
Goldman Sachs (GS) raised its rating for ZU stock from “Neutral” to “Buy.” GS also increased its price target for ZU shares from $47 to $50, SeekingAlpha notes.
GS cited strong Zulily customer growth for the ZU stock rating boost.
ZU stock closed at $36.54 in Tuesday trading.
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Article printed from InvestorPlace Media, http://investorplace.com/2014/06/zu-zulily-stock-zooms-goldman-upgrade/.
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