UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on TIBCO Software
In a report published Wednesday, Jefferies & Company reiterated its Buy rating on TIBCO Software (NASDAQ: TIBX), but lowered its price target from $36.00 to $25.00.
Jefferies noted, “Weakness seen throughout the BI / data analytics sub-sector finally caught up with TIBX with a 4Q miss. Recent data points have suggested a more challenging spend environment as customers appear to be holding back and TIBX saw particular impact within its core Infrastructure business. We believe somewhat soft results may have been expected, but with the full sub-sector facing growth challenges, a quick recovery may be difficult.”
TIBCO Software closed on Tuesday at $21.08.
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Tags: Jefferies & Company