CyberSource up after analyst backs 'Buy' rating

Shares of CyberSource Corp. climbed Tuesday along with the rest of Wall Street after an analyst reiterated a "Buy" rating on the online payment service provider, saying its fourth quarter is shaping up to be in line with expectations.

Analyst Jonathan Maietta said in a client note he believes the company's performance "has been solid through the holiday period."

"The concern about CyberSource going into the holiday season was that a weak retail environment would hurt the company's ability to execute and meet expectations," he wrote.

But Maietta noted that online retail outlets are performing better than brick-and-mortar stores. In addition, online retail represents only about half of the company's business. CyberSource also provides business and technical consulting services, among other offerings.

The analyst cut his target price by $1 to $16.

Shares of Mountain View, Calif.-based rose 70 cents, or 6.5 percent, to $11.11 in afternoon trading. In the past 52 weeks, the stock has traded between $6 and $20.40.