UPDATE: Credit Suisse Initiates Concur Technologies at an Outperform Rating

Credit Suisse initiated Concur Technologies (NASDAQ: CNQR) at an Outperform rating and a $78 price target.

Credit Suisse wrote, “A large amount of investment spending over the last two to three years has finally begun to positively affect Concur's organic growth rate. Additionally, the infrastructure build-out that CNQR embarked upon over the last few years to expand its global operations will also support a high level of growth for an extended period of time, in our view.”

Concur Technologies $64.94 on Friday.

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