UPDATE: Canaccord Raises PT on NetSuite Following Meetings
In a report published Monday, Canaccord Genuity analyst Richard Davis reiterated a Hold rating on NetSuite (NYSE: N), and raised the price target from $65.00 to $75.00.
In the report, Davis noted, “Instead of writing a ‘speed chess' note that we publish in always-crowded earnings season, we decided to reassess our HOLD rating opinion on NetSuite. Our conclusion is incrementally positive on fundamentals, and this means that we've inched up our ‘attractive buy price' on the shares. We didn't quite get to a BUY level, but assuming that the stock market ever has a correction, we might get an opportunity to upgrade our rating from HOLD on this high quality company.”
NetSuite closed on Friday at $77.99.
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