Barrington Research initiated coverage on ExactTarget ET with an Outperform rating and a $30 price target.
Barrington Research noted, "ExactTarget's digital marketing suite is differentiated by its advanced functionality and ability to address the needs of all-sized customers. Also, we expect the company to continue posting 20%-plus organic revenue growth, while improving profitability. As a result, we think that its stock should trade more in line with the fast-growth B2B SaaS group. Furthermore, it is an attractive takeout candidate."
ExactTarget closed at $23.71 on Thursday.
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