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Oppenheimer Raises PT on Taleo to $37 (TLEO)


Oppenheimer is out with its report today on Taleo (NASDAQ: TLEO), raising its price target from $33 to $37.

In a note to clients, Oppenheimer writes, "We are raising our price target to $37 from $33 following TLEO's better than expected 4Q10 results and our increased confidence it can maintain its healthy business momentum. TLEO delivered solid 4Q results and handily topped Street revenue forecasts of $67.3 million (by $3.6 million), as it benefited from its recent acquisition and experienced a healthy uptick in demand across its broad product portfolio. The revenue upside combined with cost controls and lower tax rate enabled TLEO to top Street EPS of $0.18 by a nickel."

Oppenheimer maintains Outperform on TLEO.

Shares of TLEO closed Wednesday at $30.68, down 1.95% from Tuesday's close.


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