UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Informatica Corporation

In a report published Friday, Jefferies reiterated its Hold rating on Informatica Corporation

, and raised its price target from $29.00 to $35.00. Jefferies noted, “INFA produced solid 4Q upside and provided a similar conservative approach to the outlook with the return to full sales productivity still to be several periods away. Sales-related reinvestment will remain at somewhat elevated levels resulting in a flattish CY13 initial margin target, but management is pleased with existing sales capacity which, combined with the 4Q upside and guidance, will provide relief for the stock.” Informatica Corporation closed on Thursday at $33.24.