Taleo initiated with "buy" - update

03/20/06 - Pac. Growth Equities

NEW YORK, March 20 (newratings.com) - Analyst Mark Verbeck of Pacific Growth Equities initiates coverage of Taleo Corporation (TELO) with a "buy" rating.

In a research note published on March 17, the analyst mentions that Taleo's new management team and recent profitability are likely to drive the company’s near-term performance. Taleo has significant leverage to the opportunities in the market for recruiting solutions, the analyst says. The company's stock is currently trading at a substantial discount to that of its peers, Pacific Growth Equities adds.