Informatica price target raised to $33 from $28 at Citi

Citi analyst Tyler Radke raised the firm’s price target on Informatica to $33 from $28 and keeps a Neutral rating on the shares. The analyst updated the company’s model ahead the Q4 report. The firm’s chief investment officer survey indicated an uptick in IT budgets with data analytics improving back to the number two priority. When combined with solid read-throughs from consumption and analytics peers, this should be positive for Informatica (INFA) and Teradata (TDC), especially with new generative artificial intelligence products in their respective platforms, the analyst tells investors in a research note.