Why Electronics for Imaging, Inc. Stock Popped Today

Shares of Electronics for Imaging Inc. (NASDAQ: EFII) jumped 9.6% on Monday after an analyst offered an encouraging note regarding shares of the digital printing technology specialist.

Electronics for Imaging stock plummeted more than 40% on Friday after the company postponed its second-quarter call to "complete an assessment of the timing of recognition of revenue." It also suggested that its disclosure controls "were not effective in prior periods."

Given that massive drop, however, Needham & Company analyst James Ricchiuti reiterated his buy rating on EFII shares this morning. But he also reduced his price target to $38 from $53. For perspective, Electronics for Imaging stock closed today at $28.55 per share.

Source: Fool.com