UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Qlik Technologies

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Qlik Technologies QLIK, and raised its price target from $19.00 to $21.00. Jefferies noted, “Our channel work on QLIK suggest an in-line 4Q12, with signs of some license growth deceleration. While Direct Discovery and QlikView Next are likely to be positive for adoption, we remain concerned given macro backdrop and competitive environment. Maintain Hold and nudge PT to $21.” Qlik Technologies closed on Tuesday at $20.02.