Piper Jaffray Upgrades Omniture (OMTR) to Buy
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Piper Jaffray upgrades Omniture, Inc. (Nasdaq: OMTR) from Hold to Buy and raises thier price target from $25 to $30. The firm said Omniture is the clear leader in a fast growing web analytics market.
Some key points the analyst cited inlcluded: Executing on its cross-selling and diversification strategy, Growth remains robust - 60% + y/y organic in Q1, Highly Visible Revenue Stream - approximately 70% /annual visibility, Expect LT PF Operating Margins in mid-20's vs. 10% today and attractive valuation vs. leading software/advertising services companies.
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