Splunk price target raised to $125 from $110 at BofA

BofA analyst Brad Sills raised the firm’s price target on Splunk to $125 from $110 and keeps a Buy rating on the shares after fine-tuning estimates following a round of channel checks with a number of key Splunk SI partners post the Q4 close. Based on its checks, the firm believes resilient demand for Splunk is likely to translate to ARR upside.