CommVault Systems Rated Buy, $27 Target At Lazard (CVLT)

Shares of CommVault Systems, Inc. (NASDAQ: CVLT) are higher on the day as Lazard is out with some positive comments on the stock. It has a Buy rating, as well as a $27 price target on shares of CommVault.

In the report Lazard notes, "Multiple catalysts argue for upside from current levels; thesis intact. We believe CVLT’s qtr is off to a good start, and linearity is improving after strong July. Close rates have improved early in the quarter, with July tracking ahead of April, and a majority of deals that slipped into 2Q should close by the end of August. Based on recent channel and customer checks, we believe there is pent-up demand for the additional cloud, virtualization and data de-duplication functionality. Further, we believe traction from recently announced and expected partnerships can increase deal participation rates by 2-5x. BUY TGT $27."

Shares of Lazard are jumping 45 cents to $20.28 so far in Monday trading.