UPDATE: Piper Jaffray Upgrades Solera Holdings on Improving Growth Outlook

In a report published Thursday, Piper Jaffray analyst Peter P. Appert upgraded the rating on

from Neutral to Overweight, and and raised the price target from $54.00 to $70.00. In the report, Piper Jaffray noted, “Improving organic revenue growth trends and earnings accretion from the pending acquisition of Service Repair Solutions (SRS) should drive meaningful upside in Solera's earnings over the next 18 months. We upgrade our rating to Overweight and boost our EBITDA-based price target to $70 from $54.” Solera Holdings closed on Wednesday at $58.69.