Wells Fargo raised the firm’s price target on Informatica to $32 from $25 and keeps an Overweight rating on the shares. The firm notes management provided prelim guidance for FY24 at the Analyst Day event, which was higher than Street expectations. Wells believes Informatica is emerging as a sleeper in the AI space, with high profitability and Cloud ARR growth.
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Read More on INFA:
- Informatica initiated with a Neutral at DA Davidson
- Informatica reports Q3 adjusted EPS 27c, consensus 23c
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