Wedbush Raises DMAN PT To $13

Wedbush has raised the price target on DemandTec DMAN from $11 to $13. According to Wedbush, "Our new 12-month price target represents an EV/CY2011E sales multiple of 4.0x (previously 3.5x). We believe this multiple appropriately reflects DemandTec's slower organic revenue growth rate relative to peers and market-leading position, but still a discount to peers that grow organic revenue and cash flow faster and generate more revenue from new customers." DMAN is rated Neutral and closed at $13.19 yesterday.