Bank of America: Taleo Corporation User Conference Outcome, Reiterates Buy Rating

Bank of America released a research report on Taleo Corporation TLEO announcing managements cohesive vision for company at user conference. In the report Bank of America writes, “Leading cloud companies like Taleo are re-positioning themselves for the next wave of computing--social and mobile. We saw a similar strategy from Salesforce.com CRM at Dreamforce couple of weeks ago. This could make Taleo products stickier and help with attrition, which ultimately drives bookings growth. On the social side, Taleo partnered with LinkedIn LNKD (with the initial partnership, LinkedIn profiles can be uploaded in Taleo and hiring managers can view updated candidate profiles from LinkedIn).” Bank of America has a Buy rating and a price objective of $41.00 on Taleo Corporation, which closed yesterday at $25.50.