Splunk Inc gains on KeyBanc rating upgrade
06/02/2023 13:50
** Shares of cloud software firm Splunk Inc SPLK.O rise
1.5% to $106.18 premarket
** KeyBanc Capital Markets upgrades SPLK to "overweight"
from "sector weight", sets PT at $130
** Splunk's "pervasive enterprise presence and security and
data/analytics incumbency" are advantages in a tough spending
market, says brokerage
** "We do feel better about stabilizing and more streamlined
management structure under new CEO Gary Steele" - KeyBanc
** Up to last close, stock was down ~11% in past 12 months
(Reporting by Akash Sriram in Bengaluru)
((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))