Siebel Rises on Upgrade
Updated from 9:56 a.m.
Siebel
(SEBL)
was up 9.4% at midday after
Salomon Smith Barney
analyst Heather Bellini raised her rating on the stock to outperform from neutral.
Bellini also hiked the business software company's stock price target to $48 from $40. Bellini said Siebel is likely to see a strong surge in license revenue when the current slump in IT spending turns around.
Siebel was also riding a buying trend in software and tech stocks sparked by
Oracle's
(ORCL) - Get Report
positive comments late Monday.
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