UBS Maintains a 'Buy' on Concur Technologies (CNQR); Broad-Based Strength

UBS maintains a 'Buy' on Concur Technologies (NASDAQ: CNQR) price target of $76.00 (from $75.00).

Analyst, Brent Thill, said, "Q3 June) revs grew 26.5% y/y, beating guidance 25.5% and despite FX headwind of >100bp. While mgmt did not disclose FQ3 bookings, we believe it continued recent trends (FY11 +35%, F1H12 >35%) based on new customer adds >1000, strong mid-market, improving sales productivity, and large lead flows from ADP and Amex. While macro could be a slight headwind, we see ample runway for the next 5+ yrs."

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

Shares of Concur Technologies closed at $67.28 yesterday.

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