Lazard Capital Markets Reiterates Buy on CommVault Systems Following Share Pressures

In a report published Wednesday, Lazard Capital Markets analyst Joel P. Fishbein Jr. reiterated a Buy rating and $115.00 price target on

. In the report, Lazard Capital Markets noted, “CVLT shares were under pressure yesterday, declining more than 6% on the back of Teradata weakness and concerns over APAC and Fed. While there will undoubtedly be caution from management on the macro (there always is), our checks indicate that momentum remains strong as the Simpana 10 product cycle and improving pipeline should lead to strong growth for the next several years. APAC, less than 10% of revenue, should be strong as CVLT gains most revenue from New Zealand and Australia. Industry checks including channel partners note that the new feature set, primarily the ContentStore virtual repository and data indexing functionality, are key differentiators. New “modules” for both operations management and business analytics should further help expand CVLT's TAM.” CommVault Systems closed on Tuesday at $81.69.