RightNow Technologies (RNOW) shares are on the rise this morning after FBR Capital analyst David Hilal upped his rating on the stock to Outperform from Market Perform. He raised his price target on the stock to $19, from $17. Hilal also upped his 2010 EPS forecast to 71 cents, from 65 cents.
Hilal offered two reasons for the more bullish view of the software-as-a-service provider:
- Strong business momentum and expected accelerating bookings growth.
- Recent 16% slide provides an “attractive entry point” for the stock.
RNOW is up 75 cents, or 4.9%, to $16.15.