UPDATE: Wedbush Upgrades Informatica on Project Activity Looking Strong

In a report published on Wednesday, Wedbush analyst Steve Koenig upgraded Informatica INFA from Neutral to Outperform and raised the price target on the company from $36 to $42. In the report, Wedbush stated, "We think investors looking for GARP opportunities with excellent 12-month upside potential should begin accumulating INFA shares. Our analysis of Q/Q trends and the positive tone of our checks support our estimate for double-digit Y/Y growth in licenses and total revenue going forward." Informatica closed on Wednesday at $34.50.