Bank of America: Taleo Corporation User Conference Outcome, Reiterates Buy Rating

Bank of America released a research report on Taleo Corporation (NASDAQ: TLEO) announcing managements cohesive vision for company at user conference.

In the report Bank of America writes, “Leading cloud companies like Taleo are re-positioning themselves for the next wave of computing--social and mobile. We saw a similar strategy from Salesforce.com (NYSE: CRM) at Dreamforce couple of weeks ago. This could make Taleo products stickier and help with attrition, which ultimately drives bookings growth. On the social side, Taleo partnered with LinkedIn (NYSE: LNKD) (with the initial partnership, LinkedIn profiles can be uploaded in Taleo and hiring managers can view updated candidate profiles from LinkedIn).”

Bank of America has a Buy rating and a price objective of $41.00 on Taleo Corporation, which closed yesterday at $25.50.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.