Susquehanna Upgrades Taleo Corp (TLEO) to Positive
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Susquehanna upgrades Taleo Corporation (Nasdaq: TLEO) to Positive. Price target $24.00
Susquehanna analyst says, "Based in part on the results of our recent survey, we are raising our estimates on TLEO and upgrading the shares to Positive. At the micro level, over the last few weeks we spoke to 15 enterprises about their IT budgets for HRMS (Human Resource Software). The spending commentary was better than anticipated. A mega Pharma is buying Taleo Talent Management for its Global Capabilities, a Tier 1 cable MSO is buying TLEO for superior Applicant Tracking, and a global travel and leisure vendor is buying TLEO for superior integration. The market tells us that the Vurv acquisition could create pricing power, as a major competitor has been eliminated. On the macro level, payroll declines typically only last on average for 14 months through the past few recessions. This suggests that after eight months, we are closer to the middle than the beginning of the downturn."
Taleo Corporation is a global provider of talent management software solutions. The Company offers recruiting, performance management, internal mobility and other software solutions.
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