UPDATE: Canaccord Genuity Initiates Workday at Buy; Core Growth Holding

Canaccord Genuity raised its rating on Workday

with a Buy rating and a $60 price target. Canaccord Genuity commented, "We have every indication that Workday is one of those once-in-a-decade companies that comes along in software and revolutionizes the space. We expect the stock to outperform the market, over long-stretches, for several years to come. We recommend investors own at least a partial allocation of the shares in a portfolio today, and we hope for an exogenously caused pull-back to establish a full position." Workday closed at $48.52 on Friday.