Webush Morgan Ups Informatica to Strong Buy
Wedbush Morgan upgraded Informatica (INFA) to strong buy from buy, noting that channel checks indicate the company's business momentum remains robust.
Analyst Michael Nemeroff expects the second quarter to be another good one, with a number of new product cycles on tap that could carry positive momentum well into 2007. He believes the company's recent stock price pullback represents a good entry point for many investors who "missed the run" in Jan. 2006, when the stock closed at $18. He notes that over the next 90 days the company expects 38 customers will upgrade to PowerCenter 8.1; Tuesday the company unveiled a new partner program. He raised his 66 cents 2007 earnings per share (EPS) estimate to 68 cents and his $356 million revenue estimate to $368 million.
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