Stock Watch: Walgreen’s Taps Art Technology

Shares of e-commerce infrastructure company Art Technology (Nasdaq: ARTG) had their second extremely strong trading session in a row on Tuesday, climbing 3-5/16 to 22-1/8, a gain of 17.6 percent. The stock was boosted by the news that leading brick-and-mortar drugstore Walgreens will use Art Technology’s Dynamo Product Suite to power its online pharmacy, which will launch in September.

This news came one day after shares of Art Technology climbed 4-1/16 to 18-3/16, largely thanks to a buy rating from Hambrecht & Quist and strong buy ratings from U.S. Bancorp Piper Jaffray and Thomas Weisel Partners. U.S. Bancorp Piper Jaffray was especially bullish, giving Art Technology a price target of $50. Art Technology is in a high-growth area because more and more brick-and-mortar companies are getting online — and relying on companies like Art Technology to do so.

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