UPDATE: Feltl and Company Reiterates Strong Buy Rating, Raises PT on Kenexa

In a report issued earlier today, Feltl and Company, Inc. reiterated its Strong Buy rating for Kenexa Corporation

, along with raising its price target from $35 to $37. Feltl and Company said in the report that they reiterated their rating “as we believe our 1Q industry checks indicate the company will likely grow total revenues greater than 20% organically again in FY12. We are raising our price target from $35 to $37 as we expand our valuation multiples from 2.4x FY12 total revenues and 33x FY12 EPS estimate to 2.6x our FY12 revenue estimate and 35x our FY12 EPS estimates given our increased confidence of our visibility into the company's FY12 revenue growth.” Kenexa Corporation closed on Friday at $30.36.