Oppenheimer Raising Price Target On Informatica (INFA)

Oppenheimer & Co. is raising its price target on Informatica Corporation (NASDAQ: INFA) to $36 after meeting with management.

In a note to clients, Oppenheimer writes, "We came away from recent management meetings believing demand for INFA's expanding offering remains robust as INFA is in the middle of a rapidly expanding market. While the macro environment is choppy, we believe as IT organizations move from the status quo (hand coding) to over-arching data strategies that can reduce costs and drive sales, INFA is well positioned to sustain double-digit license growth (15-20%) for the next several years as it adds new customers and gains wallet share with existing users."

It went on to say, "Additionally, improving business trends (pipelines building, close rates improving, etc.), a promising product cycle and solid track record of execution lead us to increase our estimates and PT to $36 from $32."

Shares of INFA closed at 74 cents yesterday to close at $33.79.

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