UPDATE: JP Morgan Initiates Eloqua at Overweight with $19 PT on Growth Outlook

JP Morgan initiated its coverage on Eloqua ELOQ with an Overweight rating and a price target of $19 a share. JP Morgan noted, "We are initiating coverage of Eloqua with an Overweight rating and $19 price target, representing 32% upside. ELOQ is the leader in the nascent, but increasingly important B2B Marketing Automation (MA) space, having pioneered the use of “digital body language” to generate and nurture sales leads. We believe ELOQ's suite of software applications will continue to drive strong growth for the company and for its impressive list of blue-chip customers, which eventually should flow to the bottom line given the operating leverage we believe is inherent in the business model." Eloqua closed at $14.44 on Friday.