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COGN Cognos shares may have reached low point; guidance is now finally realistic -- Piper (33.99 )
Piper Jaffray thinks COGN shares have reached a low point and the firm would be buying based on the quarter and its updated guidance provided last night. Firm believes investors will come back to the Cognos story now that the quarter and guidance is known and the forward numbers are now finally realistic. Additionally, the co is in the first inning of its new product/upgrade cycle and the business fundamentals should continue to improve as the sales force becomes more experienced with selling the new version and 8.1 is shipped in February.