Stock Watch: Analyst Recommendation Drives NIC

National Information Consortium (Nasdaq: EGOV) gained 2 5/8 to 17 1/2 Thursday after Banc of America Securities reportedly began coverage of the stock with a strong buy rating. Analyst David Scharf has a 12-month price target of 35, wire reports said.

The company, which operates e-business sites for government agencies, also announced a new set of products aimed at citizen and business groups as well as governments. One set of products will allow agencies to manage tax filings, business name searches and corporate registrations, while another will help agencies manage activities, news and information — including “Lobbyist-in-a-Box,” which tracks legislation and bill status.

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