Commvault price target lowered to $167 from $217 at RBC Capital

RBC Capital analyst Dan Bergstrom lowered the firm’s price target on Commvault (CVLT) to $167 from $217 and keeps a Sector Perform rating on the shares after its Q2 earnings miss. The quarter was largely positive, though shorter term contract duration and the accompanying lower margin outlook are likely to be more in focus and weigh on the stock over the near term, the analyst tells investors in a research note.