Shares of business software vendor
were up more than 5% on heavy volume following an analyst's upgrade.
Katherine Egbert of Jefferies said Tibco's low price, strong sales momentum and conservative first-quarter guidance merit a buy rating. She previously rated the stock a hold. Her company does not have a banking relationship with Tibco, whose shares lost nearly half their value last year.
Egbert noted that
Electronic Data Systems
is now a Tibco reseller, and although the relationship has yielded only a handful of deals so far, "it appears to us that EDS will -- in the next year or two -- result in some very significant new business."
In December, Tibco reported
better-than-expected fourth-quarter results and rallied briefly. But weak guidance spooked investors, and most of December's gains had been erased before Monday's upgrade.
Tibco sells enterprise integration software that enables disparate computer systems and applications to interact with one another.
In recent trading, shares were up 41 cents, or 5.1%, to $8.08.