Benchmark Reiterates Buy on inContact, Raises PT to $6

Benchmark reiterated its Buy rating on inContact (NASDAQ: SAAS). At the same time, Benchmark raised its price target on the company's stock to $6. In a research report published today, Benchmark stressed the company's agreement with Siemens (NYSE: SI) as the reason for its decision.

In the report, Benchmark states, "We are reiterating our Buy rating and raising our price target to $6 on shares of SAAS. We believe the Company's distribution agreement and equity investment with Siemens changes the shape of the battlefield and validates our oft-stated investment thesis that the Company is leveraged to favorable secular trends in the emerging cloud-based call center market that's driven by increasing enterprise acceptance of cloud-based delivery models, particularly mid-sized contact centers with distributed agents."

On Wednesday, inContact lost 0.5% of its value to close the day at $3.95.