Informatica lands BofA/Merrill upgrade

|About: Informatica Corporation (INFA)|By:, SA News Editor

Informatica (INFA) has been upgraded to Neutral by BofA/Merrill on valuation grounds. The firm's PT is at $37.

The upgrade comes two weeks after the data warehousing software vendor beat Q1 estimates, raised its full-year revenue guidance by $50M to $1.02B-$1.07B, and reiterated EPS guidance of $1.55-$1.65.

Shares are roughly $3 above a 52-week low of $32.87, and go for 18x 2014E EPS after backing out $730M in cash/investments.