J.P. Morgan Raises PT On Taleo From $35.00 To $40.00 (TLEO)

In a recent report, J.P. Morgan has raised the price target on Taleo TLEO from $35.00 to $40.00 and continue to maintain the overweight rating on the company based on the belief that cash will will grow at accelerated rates. In the report, J.P. Morgan said, "We believe Taleo is faced with a significant opportunity in an area of Software with a lot of greenfield opportunities – the Talent Management market. The company has traditionally posted meaningful growth, while being conscious of the ultimate goal in running a business – profit." TLEO closed yesterday at $35.02.