UPDATE: J.P. Morgan Initiates Coverage on EXACTTARGET
According to a research report published this morning, J.P. Morgan has initiated EXACTTARGET (NYSE: ET) with an Overweight rating and $36 PT.
In the report, J.P. Morgan commented, "We believe ET's best-in-class platform in the fast growing areas of e-mail, mobile and social media marketing will continue to drive impressive top-line growth for the foreseeable future. Our $36 price target is based on our discounted cash flow analysis, representing 33% upside to current levels."
EXACTTARGET closed yesterday at $27.01.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.