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Jefferies Upgrades CommVault Systems (CVLT) to Buy

July 29, 2015 7:45 AM EDT
Get Alerts CVLT Hot Sheet
Price: $97.23 -0.69%

Rating Summary:
    13 Buy, 14 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Jefferies upgraded CommVault Systems (NASDAQ: CVLT) from Hold to Buy with a price target of $45.00 (from $50.00) following yesterday's 12% sell-off post earnings.

Analyst Brad Zelnick commented, "We are upgrading CVLT shares to Buy from Hold, largely on the basis of valuation, with significant optionality around 1) execution improvements, 2) product cycle, and 3) the possibility of activism, including the potential for an outright sale. In our view, the risk/reward at current levels is simply too compelling to ignore. Our revised $45 price target represents 5.6x TTM recurring revenue, or 29% potential upside to the current share price."

The firm lowered FY 2015 EPS from $1.37 to $0.80 and FY 2016 EPS from $1.77 to $1.43.

For an analyst ratings summary and ratings history on CommVault Systems click here. For more ratings news on CommVault Systems click here.

Shares of CommVault Systems closed at $34.84 yesterday.



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