Splunk price target raised to $116 from $108 at Mizuho

Mizuho raised the firm’s price target on Splunk to $116 from $108 and keeps a Neutral rating on the shares. The company reported “decent” Q2 results, the analyst tells investors in a research note. The firm says that while Splunk’s valuation “remains generally depressed,” the company faces significant competitive challenges. It remains concerned about whether Splunk can consistently execute.