Investors belly up to riskier OpenTable IPO

Tomorrow's initial public offering by OpenTable, the online restaurant reservation service, may be a sign that investors are regaining their appetite for riskier IPOs. How so? Despite losing $1 million last year, the company yesterday raised the target price it's seeking for its shares to as much as $18. That's not a move its underwriters would consider unless they anticipated many buyers.

If all goes as planned, OpenTable will raise a tiny $21.9 million in exchange for selling about 14 percent of its stock on Nasdaq. But Scott Sweet, senior managing partner at IPOBoutique.com, senses risk: Most of the handful of companies going public this year have been relatively recession proof, and OpenTable is anything but.