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Citi Steps To The Sidelines On Qlik Technologies, Explores Four Potential Acquirers

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Shares of Qlik Technologies Inc QLIK surged following news of a possible buyout. Citi’s Walter H Pritchard downgraded the rating for the company from Buy to Neutral, while raising the price target from $23 to $30.

Qlik Technologies’ market cap is currently at $2.7B, and a takeout would likely be at a premium from these levels. The deal size would likely be in range of $3B-$3.5B, which is large “but by no means a 'mega-deal' for any given large cap tech vendor,” analyst Walter Pritchard commented. He named four potential acquirers.

HP Enterprise

Hewlett Packard Enterprise Co HPE has a limited presence in self-service analytics. Although the company acquired Vertica in 2011, it has limited front-end capability. “This goes...


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