UPDATE: Piper Jaffray Upgrades FactSet Research on Improving Industry Dynamics

In a report published on Thursday, Piper Jaffray analyst Peter P. Appert Upgraded FactSet Research (NYSE: FDS) from Neutral to Overweight and raised the price target on the company from $95 to $121.

In the report, Piper Jaffray noted, "We believe improving demand dynamics, an evolving competitive market, and compelling financial model characteristics are the catalysts for upside in FDS shares after two years of significant underperformance."
FactSet Research closed on Wednesday at $97.07.