Sterne Agee Initiates Coverage of CommVault Systems with Buy Rating, $54 PT

In a company report published earlier today, Sterne Agee Group, Inc. initiated coverage of CommVault Systems, Inc.

with a Buy rating and a $54.00 price target. Sterne Agee went on to say “We believe CommVault's all-in-one backup/archival/management platform continues to resonate well in the multi-billion a year market against a more fragmented, multi-solution approach among competitors. We argue that productivity yields have room for expansion and more importantly, growth in VMs will create significant backup bottlenecks with Simpana as a key strategic technology solution.” CommVault Systems, Inc. closed on Friday at $46.12.