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The market had a steep decline on Friday on continuing uncertainty around the Federal Reserve and its policies. The Dow Jones had its biggest pullback in more than a month and other indices posted significant declines as well. However, a couple of tech stocks did manage to buck the decline in the overall market and appear poised to head still higher.

Facebook (NASDAQ:FB) staged better than a 3% rise to another all-time high despite the market turmoil on back of yet another analyst upgrade, this time by Cowen which upped its rating on the shares to "Outperform". Earlier in the month, JP Morgan raised its price target to $53 a share from $44 a share previously. CLSA upped its price target to $60 a share the same week. Suntrust also boosted its price target to $55 a share earlier in September.

I have posted several times on TheStreet since the stock broke through its IPO resistance level of $38 a share, that the shares look destined to reach the $50 level which they seem being drawn to as if by a magnet. The eventual launching of company's anticipated video ad service and any traction in opening up the Middle Kingdom for its services could serve as further catalysts once the stock broaches that level, which I expect to break through in short order.

Middleware and infrastructure software provider TIBCO Software (NASDAQ:TIBX) was also up just less than 3% on Friday. The company posted third quarter earnings results that easily beat the consensus on the top and the bottom line. Better than expected software license growth drove the positive results. Susquehanna also upgraded the shares to "Positive".

Activist Dan Loeb recently took a significant stake in this software company. SA contributor Akram's Razor recently did an extensive piece on TIBCO speculating Loeb may try to unlock shareholder value by pushing for an IPO of the company's business optimization unit. Given the company's third quarter earnings beat, I would expect some analysts to upgrade the stock and raise the shares' price target in the coming weeks. This should drive further gains in the stock. The current median price target on TIBX by the 20 analysts that cover the stock is $29 a share.

Source: 2 Tech Stocks That Ignored Friday's Decline