Informatica price target raised to $39 from $33 at BofA

BofA raised the firm’s price target on Informatica to $39 from $33 and keeps a Buy rating on the shares following “strong” Q4 results demonstrating good go to market execution and initial 2024 guidance that was above Street expectations. Given the company’s strategic position in the next-gen data management opportunity, the firm expects “beat-and-raises to continue,” the analyst tells investors.