UPDATE: Stifel Nicolaus Raises PT to $37 on Informatica on Productivity Checks
Stifel Nicolaus reiterated its Buy rating on Informatica (NASDAQ: INFA) and raised the price target from $31.00 to $37.00.
Stifel Nicolaus noted, "We are comfortable with our license estimate of $85mn (-24% y/y), with checks supporting our mid-December view that the company has been able to stabilize pockets of key weakness (EMEA most notably) during the quarter. Given the stock's solid run since early December (+21% since 12/4/12 vs COMP +6%), sentiment has shifted back towards a bullish stance - perhaps too bullish - in our view for the very near term. However, our productivity analysis… suggests that FY13 expectations could prove to be conservative, and as such, we are raising our 12-month target price from $31 to $37."
Informatica closed at $31.80 on Tuesday.
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