Stock Watch: Upgrade Boosts WebEx

WebEx Communications, Inc. (Nasdaq: WEBX) rose 1 1/8 to 36 5/8 Wednesday on reports that Wit SoundView upgraded the stock from buy to strong buy, and set a 12-month price target of $145.

The San Jose, California-based WebEx provides Internet-based communications services to online marketplaces, portals and businesses. The company’s technology allows people to hold interactive meetings over the Web.

Online marketplace operator Commerce One, Inc. recently agreed to use WebEx technology to allow buyers and sellers using its CommerceOne.net business-to-business (B2B) marketplace to meet over the Web.

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