UPDATE: Sterne Agee Raises PT to $84 on CommVault Systems; Executing Amid Weak Macro

Sterne Agee maintained CommVault Systems, Inc.

with a Buy rating and raised the price target from $72.00 to $84.00. Sterne Agee noted, "CommVault continues to demonstrate strong license growth execution, well ahead of peers in a challenging macro and should be bolstered by the Simpana 10 product cycle. We believe there continues to be room for additional estimate growth and multiple expansion as management adds continued buffer to out quarter / year operating margin targets." CommVault Systems closed at $77.44 on Tuesday.