Solera climbs on FQ1 beat, guidance raise, Piper upgrade

Shares of Solera (SLH +12.5%) climb after yesterday's FQ1 beat and an upgrade from Piper Jaffray to Overweight with a PT of $70.

Management hiked its FY2014 guidance to revenue of $898M-$906M from $882M-$890M (and vs. consensus of $890.5M) and EPS of $2.41-$2.48 from $2.28-$2.35 ($2.90).

The company cited signs of recovery in Western European markets as the cause for the hike, but "maintains [its] cautiously conservative stance."

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