UPDATE: Hilliard Lyons Upgrades TIBCO Software on Possible Turnaround Taking Shape

In a report published on Friday, Hilliard Lyons analyst Stephen Turner upgraded TIBCO Software (NASDAQ: TIBX) from Long-term Buy to Buy and maintained a price target of $27.

In the report, Hilliard Lyons stated, "We see improving results in the back half of the year on stronger internal processes, an improving macro environment and easier y/y comparisons. We believe the company's recent transition and Event Driven Product Platform could set TIBCO up for sustained long-term growth."

TIBCO Software closed on Friday at $21.03.