Oppenheimer analyst Param Singh lowered the firm’s price target on Commvault (CVLT) to $180 from $200 due to a compression in market multiples, but sees the name as undervalued trading at 4-times EV/Sales. The firm keeps an Outperform rating on the shares ahead of quarterly results. Oppenheimer expects the company to modestly beat Q3 expectations and Q4 guidance, driven by continued demand for cyber-resilience products.
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