J.P. Morgan Reiterates Overweight Rating On J.P. Morgan

According to J.P. Morgan, Quest Software QSFT negatively preannounced 2Q earnings and lowered its full year outlook. J.P. Morgan said that the Overweight rating is reiterated. “We continue to rate QSFT Overweight with a $28 price target based on a blended average of Scenarios 2 and 3 of our DCF. We view QSFT as a rare value name in SMid Cap Software that actually should show meaningful growth (just not as much as it had originally planned). We believe there is materially less risk in the stock at this time.” Quest Software closed yesterday at $22.59.