Will This Upgrade Help Marketo (MKTO) Today?

Story updated at 9:55 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Marketo (MKTO) was upgraded to "neutral" from "sell" by UBS Tuesday.

Shares of Marketo gained 2.5% to $37.05 in morning trading.

The firm set a price target of $40 for the software developer. The upgrade is a valuation call according to UBS analysts, as there has been a pullback of about 20% on the stock with no substantial news.

Must read: Warren Buffett's 10 Favorite Stocks

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STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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