NEW YORK (TheStreet) -- Shares of Digital River Inc. (DRIV) are up 0.77% to $24.84 today after Credit Suisse upgraded the company to "neutral" from "underperform" with its price target raised to $26 from $14.
The global cloud-commerce payments and marketing solutions company will benefit from being acquired by a group led by Siris Capital Group LLC, analysts said.
"Due to the announcement of the company's acquisition by an investor group led by Siris Capital Group for $26 per share, we are raising our rating, which implies a next twelve months P/E multiple of 41x," analysts said, adding, "We are adjusting our 2014 revenue and EPS forecast from $375.1 million and 43 cents to $376.5 million and 51 cents, respectively."
Must Read: Warren Buffett's 25 Favorite Stocks
Siris Capital is a private equity firm focused on making control investments in data/telecommunications, technology and technology-enabled business service companies in North America.
Separately, TheStreet Ratings team rates DIGITAL RIVER INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate DIGITAL RIVER INC (DRIV) a HOLD. The primary factors that have impacted our rating are mixed--some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."