UPDATE: Deutsche Bank Raises Target to $35 on Fair Isaac

Deutsche Bank reiterates its Hold rating on Fair Isaac FICO and raises its price target to $35 from $32 a share on strong quarter that beat estimates. Deutsche Bank notes, "FICO reported a strong 1Q12 at $170m/$0.81 vs. our estimate of $161m/$0.57 and consensus of $159.3m/$0.61. The beat was driven by two large Falcon (fraud detection) term license deals in the quarter. Slower bookings of $59m (down 30% y/y) and reiteration (not a raise) of FY12 guidance provided last quarter suggest this quarter's beat may have been one-time." FICO closed at $39.23 a share on Thursday.