Benchmark Reiterates Buy on inContact, Raises PT to $6

Benchmark reiterated its Buy rating on inContact SAAS. At the same time, Benchmark raised its price target on the company's stock to $6. In a research report published today, Benchmark stressed the company's agreement with Siemens SI as the reason for its decision. In the report, Benchmark states, "We are reiterating our Buy rating and raising our price target to $6 on shares of SAAS. We believe the Company's distribution agreement and equity investment with Siemens changes the shape of the battlefield and validates our oft-stated investment thesis that the Company is leveraged to favorable secular trends in the emerging cloud-based call center market that's driven by increasing enterprise acceptance of cloud-based delivery models, particularly mid-sized contact centers with distributed agents." On Wednesday, inContact lost 0.5% of its value to close the day at $3.95.