UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on Qlik Technologies on Solid 4Q Results

In a report published Friday, J.P. Morgan reiterated its Overweight rating on Qlik Technologies

, and raised its price target from $30.00 to $32.00. J.P. Morgan noted, “QLIK easily exceeded 4Q expectations and prudent guidance was above expectations for 2013 (though lower for the first quarter). We believe these results will mark an inflection point in QLIK's business, as it engages more intimately with enterprises, resulting in larger direct deals, while still focusing on its important channel business.” Qlik Technologies closed on Thursday at $22.76.