UPDATE: Oppenheimer Color on Informatica PT Increase

Oppenheimer, which raised its PT on shares of Informatica Corporation (NASDAQ: INFA), is providing some color on the stock.

“We recently hosted management meetings with INFA and left more confident that near-term demand for its broadening offering remains robust, its new investments are starting to pay dividends (expanding sales capacity) and INFA is still in the early innings of a large (>$5B) and attractive market,” Oppenheimer writes.

“Additionally, we believe its more strategic and integral role to enterprises will enable it to sustain double-digit license growth (20%+) for the foreseeable future.

“Although we expect management to continue to heavily invest in its business (given its large market opportunities), we still anticipate earnings will grow double-digits and outpace revenue growth.”

Informatica closed Wednesday at $58.30.