UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Qlik Technologies Ahead of 2Q13 Results

In a report published Monday, Jefferies analyst Ross MacMillan reiterated a Hold rating on Qlik Technologies QLIK, and raised the price target from $28.00 to $31.00. In the report, Jefferies noted, “We expect an-inline to slightly better 2Q13 from QLIK, given our recent field work, the comps and the support from large deals. We saw positive performance relative to plan (but less positive than 1Q13) and channel growth decelerated for 2Q13, while expectations for CY13 growth also moved lower. We are conscious that QLIK is facing its easiest comp of the year in 2Q13 and that large, direct deals can help. We maintain our HOLD.” Qlik Technologies closed on Friday at $31.93.