Stifel Raises Price Target on Commvault Systems (CVLT) Following User Conference
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Stifel reiterated a Buy rating on CommVault Systems (NASDAQ: CVLT), and raised the price target to $68.00 (from $62.00), following the company's Commvault GO End User and Partner Conference.
Analyst Aaron Rakers commented, "Commvault remains one of our top picks – driven by a positive view on fundamental upside (top/bottom-line – revenue growth into mid-teens w/ progression toward 20%+ EBIT%?) and valuation re-rate. This week we attended Commvault’s inaugural end user / partner event, Commvault GO, which hosted a solid ~1,300 attendees. The event reinforced our positive view on Commvault’s Data Platform competitive positioning, alignment with enterprise-scale hybrid cloud data management, expanding partnership ecosystem (e.g., Cisco, Microsoft, Pure Storage, etc.), production positioning / expansion (e.g., SDS, cloud capabilities, etc.), and focus on continuing to expands its platform API openness. We are positive on Commvault’s position as a supplier of heterogeneous (e.g., 17+ types of data supported) enterprise-scalable data management."
Shares of CommVault Systems closed at $55.04 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- Jefferies Cuts Price Target on Reliance Steel (RS) Following 3Q EPS Miss and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!