Goldman Sachs Starts Conqur (CNQR) at Neutral

Goldman Sachs resumes coverage on Conqur (NASDAQ: CNQR) with a Neutral and $50 price target.

The firm sees Conqur as a long-term leader in SaaS, but said shares will be held back due to investor concerns about leverage. They see 2011 new bookings growth of 35%, but said it is difficult to assess the organic strength in the business given the lack of leading indicators.

"We are confident in long-term leverage, yet see investors giving little credit to the company until it demonstrates better overall growth without deterioration in FCF," the firm said.

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

Shares of Conqur closed at $47.34 yesterday.

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