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

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In a report published earlier today, Drexel Hamilton, LLC upgraded its rating for Qlik Tech (NASDAQ: 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.

Latest Ratings for QLIK

DateFirmActionFromTo
Dec 2014JefferiesMaintainsBuy
Nov 2014JefferiesInitiates Coverage onBuy
Nov 2014MacquarieInitiates Coverage onOutperform

View More Analyst Ratings for QLIK
View the Latest Analyst Ratings

Posted-In: Drexel HamiltonAnalyst Color Upgrades Analyst Ratings

 

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