BofA/Merrill Lynch Starts NetSuite (N) at Neutral

BofA/Merrill Lynch initiates coverage on NetSuite (NYSE: N) with a Neutral rating and a price target of $105.00.

Analyst Kash Rangan calls NetSuite standout among Cloud companies, and said cloud penetration in enterprise resource planning (ERP) is very low and the competitive environment is favorable. That said, the firm believes the current share price already reflects this.

For an analyst ratings summary and ratings history on NetSuite click here. For more ratings news on NetSuite click here.

Shares of NetSuite closed at $103.89 yesterday.

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