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UPDATE: Stifel Nicolaus Cuts PT to $28 on TIBCO Software Following Negative Q4 Pre-Announcement

Related TIBX
Bank Of America Sees Multiple Strategic And Tactical Levers For TIBCO Software
Morgan Stanley Sees Execution Challenges, Low Event Probability For TIBCO Software

Stifel Nicolaus reiterated its Buy rating on TIBCO Software (NASDAQ: TIBX) but reduced its price target from $35 to $28.

Stifel Nicolaus noted, "TIBCO notes company-specific (continued execution challenges with Americas core infrastructure) and macro (federal government spending pullbacks, pushed deals due to Sandy) headwinds led to the shortfall. While it will likely take another few quarters for the Americas infrastructure segment to rebound (the new SVP of North America Infrastructure Sales just started on 12/1), Spotfire, the European infrastructure business, and tibbr were cited as bright spots. We believe much of the miss was macro related and the secular story remains intact. With the stock trading off AH, we think much of the negative news is priced in and offers a constructive entry point for longer-term and patient investors."

TIBCO Software closed at $24.72 on Tuesday.

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings


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