Wedbush Reiterates Neutral Rating on TIBCO Software; Raises PT To $20
In a research note released earlier today, Wedbush analyst Steven Koenig reiterated a Neutral rating on TIBCO Software (TIBX) and increased his price target to $20 (from $19) on lower EPS estimates, but a slightly higher FY16 P/E multiple.
Koenig comments: “We see heightened risks, as a turn-around will likely be more difficult and take longer than TIBX’s 2005 recovery from self-inflicted execution issues. On the upside, we think any additional public activist activity could help TIBX’s share price, although we remain skeptical of take-out potential for TIBX in the near-term”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Steven Koenig currently has a one-year average return of 11.4% and a 65% success rate. He is ranked #772 out of 3118 analysts.