Informatica price target raised to $19 from $18 at Scotiabank

Scotiabank raised the firm’s price target on Informatica (INFA) to $19 from $18 and keeps a Sector Perform rating on the shares. The company reported roughly in-line Q1 results across top-line key performance indicators and a nice beat on operating margins, the analyst tells investors. The firm intends to remain on the sidelines awaiting evidence of Informatica’s position to help organizations prepare for generative AI, ability to port its strengths in self-managed software to software as a service, and whether customers are standardizing on its platform.