UPDATE: Morgan Stanley Reiterates On TIBCO Software Inc.

In a report published Friday, Morgan Stanley analyst Keith Weiss reiterated an Equal-Weight rating on TIBCO Software Inc. TIBX, and named a $21.00 price target. In the report, Morgan Stanley noted, Better sales processes, a more focused product strategy and more cloud offerings are necessary changes for TIBCO. However, near-term execution challenges compound these transition impacts, and this turnaround plan will likely take time to bear fruit. We remain on the sidelines.” TIBCO Software Inc. closed on Thursday at $20.79.