Market Overview

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

Related TIBX
S&P 500 Once Again Unable To Hold 2,000
PVH Corp Jumps On Upbeat Earnings; Ciena Corporation Shares Slip

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.

Latest Ratings for TIBX

DateFirmActionFromTo
Jun 2014SusquehannaDowngradesPositiveNeutral
Jun 2014BarclaysMaintainsUnderweight
Jun 2014Deutsche BankMaintainsHold

View More Analyst Ratings for TIBX
View the Latest Analyst Ratings

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

 

Related Articles (TIBX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters