UPDATE: Evercore Upgrades Informatica

Evercore analyst Kirk Materne upgraded Informatica INFA from Equal-weight to Overweight and reiterated a $43 price target.

Materne views the current risk/reward of Infomatica attractively based on the revenue mix now focusing more on faster growing products and less on extract, transform and load product.

Specifically, Materne is looking for the cloud to be a driver for Informatica as its partnerships with Cloudera, Hortonworks and Amazon Web Services mature.

Informatica shares were up just over one percent, at last check.