Hortonworks (HDP): Raising PT On IBM Partnership - Wunderlich
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Wunderlich Securities analyst, Bill Choi, reiterated his Buy rating on shares of Hortonworks (NASDAQ: HDP) and raised his price target to $18 from $15 after IBM standardized on Hortonworks for Hadoop as part of a partnership that will strengthen its AI offering against Cloudera (CLDR-NR), while eliminating a competing Hadoop distribution.
The analyst sees repeatable-use cases for Big Data in various industry sectors and creates a robust demand environment. HDP is on track for positive OCF in Q4, which would mark an important milestone for the company in proving the self-sustainability of its open-source business model.
Shares of Hortonworks closed at $13.38 yesterday.
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