UPDATE: CommVault Systems (CVLT) PT to $62 at Mizuho Following Strong Q2
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Mizuho Securities analyst Abhey Lamba reiterated a Buy rating and raised his price target on CommVault Systems (NASDAQ: CVLT) to $62.00 (from $60.00) following strong Q2 results.
Lamba commented, "Commvault's F2Q results came in better than expectations. Management called out better sales execution and enterprise activity as the updated product resonates with customers for cloud workloads. For outlook, management blessed consensus F2H estimates. We believe the stock continues to work on product cycle, improved execution and undemanding valuation and see potential upside to estimates on continued execution improvement. Reiterate Buy rating while adjusting our PT to $62 from $60."
Shares of CommVault Systems closed at $53.75 yesterday.
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