UPDATE: Morgan Keegan Downgrades SuccessFactors to Market Perform

According to Morgan Keegan, SuccessFactors

is downgraded to Market Perform. Morgan Keegan said that it is downgrading shares of SFSF to Market Perform due to SAP announcing its intention to acquire the company for $40/share, representing an enterprise value of ~$3.5B and a 52% premium over Friday's closing price of $26.25. “Due to the SFSF offer, we believe other subscription software vendors that could be viewed as potential acquisition targets include: KNXA, TLEO, ULTI, and NetSuite (N- $43.10, NR).” SuccessFactors closed on Friday at $26.25.