Deutsche Bank Increases Its Price Target on RightNow Technologies (RNOW)

Deutsche Bank is out with its research report today on RightNow Technologies RNOW increasing its price target from $23 to $24. In a note to clients, Deutsche Bank writes, "RightNow announced the acquisition of Q-go, a provider of natural language search solutions, for $34m in cash. The acquisition is expected to close within the next month and add $1m in revenue to 1Q11 and $8m in FY11. The company also raised their 4Q10 revenue guidance from $49.3m to $51m, reflecting continuing business momentum. We are encouraged by these developments and are raising our revenue estimates for FY11 and FY12. Reiterate Hold rating." RNOW closed yesterday at $27.50, up 1.51% from Friday's close.