Wunderlich Securities Initiates Coverage On Concur Technologies With Buy Rating

According to Wunderlich Securities, Concur Technologies CNQR coverage is initiated with a Buy rating. Wunderlich Securities said that it is initiating coverage of Concur Technologies (CNQR) with a Buy rating and $56.00 price target. “As one of the best scaled, profitable, and most defensible SaaS players, and given its solid organic growth rate, Concur has typically carried a strongly premium valuation, leaving the current weakness an attractive entry point. Our $56 price target assumes a 6.0x multiple using year-out forecasts.” Concur Technologies closed yesterday at $40.19.