William Blair analyst Jason Ader late Monday launched coverage of CommVault (CVLT) with an Outperform rating, asserting that the storage software company is “a classic share-gain story.”
He cites three reason for his bullish stance on the stock.
- The strength and breadth of its product offering.
- A broadening distribution story.
- “A competitive field that is not nearly as focused on this space.”
“We see continued room for upward earnings revisions and multiple expansion as the company broadens its market presence and continues to take share,” he writes. “We also believe takeout interest could be high.”
CVLT on Monday rose 78 cents, or 3.6%, to $22.53.
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