UPDATE: Benchmark Upgrades Saba Software; Establishes PT

According to a research report published earlier today, Benchmark has upgraded Saba Software Inc. SABA from Hold to Buy, and establishes a target price of $16. In the report, Benchmark commented, “We are upgrading our rating on SABA to Buy from Hold and establishing a $16 price target following the Company's positive user event and analyst meeting. We believe that this is an appropriate time to reengage the story, since we believe several factors needed to move the stock appear to be in place today and we think they're sustainable over the medium-term.” Saba Software closed yesterday at $11.99.