NEW YORK (TheStreet) -- Zulily (ZU) shares closed trading up 1.1% to $40.30 on Thursday after being upgraded by RBC Capital to "reasonable price" and having its price target raised to $50 from $45.
The 50% pullback on the stock was the impetus for the firm's improved outlook.
"Our biggest concern has been (Zulily's) valuation, the 50% (stock) correction over the last four months has caused us to reassess our call," analysts wrote in the note.
Must Read: Warren Buffett's 25 Favorite Stocks
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV