PMTC’s Domestic Revenue To Return To Growth In Q4
Analysts at Piper Jaffray maintain their "neutral" rating on Parametric Technology (NASDAQ: PMTC), while raising their estimates for the company. The target price for PMTC is set to $19.
According to Piper Jaffray, “PTC reported a slight Q3 revenue and EPS upside driven by strong PLM license sales. The company reaffirmed its FY10 guidance despite the Q3 beat as well as improving currency assumptions.”
“International business now appears to be stable and we expect domestic revenue to return to growth in Q4, increasing our confidence in visibility in all geographies,” the analysts add.
Piper Jafray has raised its EPS estimate for 2011 from $1.19 to $1.20.
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