UPDATE: Stifel Nicolaus Upgrades Dice Holdings to Buy, Assigns $14 PT Following Conference Presentation

In a report published Wednesday, Stifel Nicolaus analyst Jordan Rohan upgraded the rating on Dice Holdings DHX from Hold to Buy, and named a $14.00 price target.

In the report, Stifel Nicolaus noted, “Scot Melland, Chairman, President, & CEO of Dice Holdings presented at the Stifel Internet, Media and Communications Conference yesterday. A healthy portion of the commentary focused on the positive results of a beta version of OpenWeb, Dice's meta job search functionality. Renewal rates among Dice customers who regularly use OpenWeb, admittedly a small sample, were appreciably higher than recent trends. If this trend continues as OpenWeb functionality rolls out more broadly, revenue acceleration could drive upside to estimates and potentially drive shares higher. We are upgrading our rating on Dice Holdings from Hold to Buy. $14 Target.”

Dice Holdings closed on Tuesday at $9.19.