Siebel Rises on Upgrade

By TSC Staff ,

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.

Loading ...