UPDATE: Barrington Research Initiates ExactTarget at Outperform

Barrington Research initiated coverage on ExactTarget ET with an Outperform rating and a $30 price target. Barrington Research noted, "ExactTarget's digital marketing suite is differentiated by its advanced functionality and ability to address the needs of all-sized customers. Also, we expect the company to continue posting 20%-plus organic revenue growth, while improving profitability. As a result, we think that its stock should trade more in line with the fast-growth B2B SaaS group. Furthermore, it is an attractive takeout candidate." ExactTarget closed at $23.71 on Thursday.