Citi Upgrades TIBCO Software (TIBX) to Buy

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Citi upgrades TIBCO Software (Nasdaq: TIBX) from Hold to Buy. Price target increased from $9 to $10.

Citi analyst says, "We think TIBX has a solid fundamental business and demand for its core business including messaging, integration and business process management technology (est over 80% of rev) should benefit from accelerated enterprise adoption of enterprises move towards adopting SOA technologies...We also believe TIBX, as the last remaining standalone middleware provider, is likely to be acquired following Oracle's (Nasdaq: ORCL) announced plans to acquire BEA Systems (Nasdaq: BEAS). A deal that is expected to close in mid-2008. We think IBM (NYSE: IBM) is the most likely suitor and believe SAP (NYSE: SAP), HP (NYSE: HPQ), ORCL, Sun Microsystems (Nasdaq: JAVA), EMC Corp (NYSE: EMC), and Cisco (Nasdaq: CSCO) could all be interested in TIBX."

TIBCO Software Inc. (TIBCO) is a business integration and process management software company that enables real-time business. TIBCO provides software that enables interoperability between applications and information sources, coordinates processes that span systems and people.

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