UPDATE: Drexel Hamilton Upgrades Qlik Tech From Hold to Buy, Reiterates $30 PT

In a report published earlier today, Drexel Hamilton, LLC upgraded its rating for Qlik Tech QLIK from Hold to Buy, and reiterated its $30.00 price target. Drexel Hamilton said its decision “is based on a 15x EV/EBITDA (FTM) multiple plus a premium for being what we consider a potential acquisition candidate. We think investors may have overestimated the potential impact form the worldwide economic challenges as observed by the 21% drop in share prices for Qlik Technologies since the beginning of May compared to a 4% and 6% pullback in the S&P 500 and NASDAQ indices, respectively, during the same time period. We think this pullback makes an attractive entry point for new investors. Qlik Tech closed on Friday at $21.65.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorUpgradesAnalyst RatingsDrexel Hamilton
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!