Cognos "outperform"

10/12/06 - Baird Patrick & Co

NEW YORK, October 12 (newratings.com) - Analyst Steven M. Ashley at Baird Patrick & Co maintain their "outperform" rating on Cognos (COGN). The target price is set to $42.

In a research note published this morning, the analyst mention that the company believes that the current quarter would be an inflexion point for the company's Cognos 8 product, which was launched nine months earlier. Cognos has indicated that its sales force, which has transitioned to selling enterprise solutions, has built a client pipeline and measures have been taken to improve sales execution. Cognos has successfully evolved to meet the challenges of the new business environment and is at the helm of a two-year product cycle for Cognos 8, the analyst adds.