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VistaPrint shares rise on analyst's advice

NEW YORK (Bloomberg) - VistaPrint Ltd., the Internet supplier of graphics and printed products, rose the most in seven weeks in US trading after Goldman, Sachs & Co. analyst Jennifer Watson placed the stock on its "Conviction Buy" list.

VistaPrint climbed $1.38, or 4.9 percent, to $29.77 at 4.30pm New York time in Nasdaq Stock Market trading. Goldman's six-month price target for the stock is $42.

Goldman raised its estimates for revenue, operating income and profit for 2009 and 2010 on expected capital expenditures, new-customer growth and an analysis of Hamilton, Bermuda-based VistaPrint's share of customer spending, called "wallet share," according to the report released yesterday.

The company's share "can increase as customers become more familiar with the breadth of VistaPrint's product offering," Ms. Watson wrote in an e-mail.

VistaPrint manufactures marketing products including business cards, brochures, holiday cards and customised items.