First Analysis analyst Frank Sparacino upgraded Tableau Software to Outperform from Neutral and raised his price target for the shares to $123 from $105. The stock closed Friday up 99c to $108.60. The analyst cites valuation for the upgrade following the company's "strong" Q3 results. Tableau is seeing "strong" sales momentum, with Q3 license revenue up 19% year-over-year, Sparacino tells investors in a research note. Further, he points out the company's transition to a subscription/recurring revenue model is largely complete. In addition, the stock has returned to levels seen before the Q3 results were released, says Sparacino.