Stock Watch: Buy Recommendation Powers Kana

Kana Communications, Inc. (Nasdaq: KANA) rose 5 7/8 to 53 1/4 Monday after Credit Suisse First Boston began coverage of the stock with a buy recommendation and a 12-month price target of $70.

The Redwood City, California-based e-commerce software maker has dropped from a 52-week high of 175 1/2 in March. Earlier this month, the company raised $125 million by selling shares to institutional investors.

Separately Monday, Kana announced a partnership with UK counterpart Business Systems Group. BSG will use Kana’s eBusiness System in the UK and South Africa.

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