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Fly News Breaks for March 28, 2016
HPE, ORCL, IBM, QLIK
Mar 28, 2016 | 08:31 EDT
After Reuters reported that Qlik Technologies (QLIK) has begun exploring strategic alternatives, RBC Capital analyst Matthew Hedberg said he believes a sale to either a strategic or private equity buyer could make sense. Vendors such as IBM (IBM), Oracle (ORCL) and HP Enterprise (HPE) could "make a lot of sense" as potential strategic buyers and Qlik could command a premium multiple given that it is "still showing very nice revenue growth," Hedberg tells investors. The analyst keeps an Outperform rating on Qlik shares and raised his price target on the stock to $35 from $30.
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