UPDATE: Goldman Sachs Upgrades Solera Holdings; Raises PT
According to a research report published this morning, Goldman Sachs has upgraded Solera Holdings (NYSE: SLH) from Sell to Neutral, and raises PT from $43 to $44.
In the report, Goldman Sachs mentioned, "SLH is down 15.4% since being added to our Sell list (10/19/11) and 16.7% over the last 12 months vs. the S&P 500 up 12% and 0.6%. Following Solera's 3QFY12 result we adjust our FY2012/13/14E cash EPS primarily for FX to $2.65/ $2.78/$2.99 from $2.70/2.84/$3.14. Our $44 ($43 prior) 6-month (12-month prior) price target is based on 16X FY13E EPS of $2.78—a discount vs. its historical multiple as European markets remain volatile, tempering growth."
Solera Holdings closed yesterday at $44.65.
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