UPDATE: Stifel Nicolaus Raises PT to $28 on PROS Holdings on Solid B2B Growth

Stifel Nicolaus maintained PROS Holding

with a Buy and raised the price target from $24.00 to $28.00. Stifel Nicolaus noted, "PROS reported 4Q12 financial results after market close on February 12, 2012 that were ahead of expectations, with bookings again ahead of plan in 4Q. Mgmt also offered a very optimistic outlook for its B2B business following 40% y/y growth in 2012 and an uptick in new B2B signings, and plans to invest in both services and sales and marketing capacity in FY13 and FY14 to capture the growth opportunity. While the planned investment will limit margin expansion through 2014, we believe that it is indicative of very strong confidence in the pipeline and are raising our 12-month target price to $28." PROS Holdings closed at $22.20 on Tuesday.