J.P. Morgan Maintains Overweight on Taleo

J.P. Morgan is out with its report today on Taleo TLEO, maintaining Overweight. In its report, J.P. Morgan writes, "We continue to rate TLEO Overweight because we believe the company offers a unique solution in the underpenetrated market for Talent Management applications. The company has leveraged its comprehensive suite of products to generate 20%+ top-line growth while achieving above-average profitability compared to SaaS (Software-as-a-Service) peers. Management has thus far executed well on its vision of developing the leading platform for strategic HR, and we believe it will continue to do so as the market matures." J.P. Morgan maintains its $44 PT on TLEO. Shares of TLEO closed Friday at $26.93, down 11.94% from Thursday's close.