UPDATE: Credit Suisse Initiates Responsys at an Outperform Rating

Credit Suisse initiated coverage on Responsys

at an Outperform rating and a $15 price target. Credit Suisse noted, “Responsys is a leader in SaaS marketing in interactive channels for large businesses and enterprises. Due to secular shifts in ad spending to e-mail, social, mobile, and display channels, we believe that the company will benefit from its on-demand Interact product suite as broader adoption of SaaS occurs within marketing departments.” Responsys closed at $11.62 on Friday.