Informatica price target raised by $7 at Guggenheim, here’s why

Guggenheim analyst Howard Ma raised the firm’s price target on Informatica to $31 from $24 and keeps a Buy rating on the shares. The firm’s revised target is based on a less conservative terminal year growth rate that better reflects the company’s long-term prospects, the analyst tells investors after having attended Informatica’s investor day in San Francisco. The firm, which has held the view that Informatica “doesn’t get the investor attention it deserves,” contends that the company has “undergone a massive transformation” from a fundamental perspective.