Morgan Keegan Reiterates Outperform On Taleo, Raises PT to $46

In a note out today, Morgan Keegan reiterated an outperform rating on Taleo (Nasdaq: TLEO) while raising its price target on the stock to $46 from $38, implying decent upside in the stock.

"Increasing price target to $46 and continue to recommend investors purchase TLEO shares given improving skilled labor market trends in the U.S., the higher valuation precedent SAP sets with proposed acquisition of SFSF, and potential disruption SFSF may experience," Morgan Keegan said in the note.