UPDATE: Oppenheimer Lowers PT on CA to $28
Oppenheimer is out with its report today on CA (NASDAQ: CA), lowering its PT from $29 to $28.
In its report, Oppenheimer writes, "We are edging our target on CA down to $28 from $29 and tweaking our FY12E and FY13E lower following 2Q (Sept) results which saw solid performance tempered by an incrementally cautious outlook. CA beat the consensus, raised the lower end of its FY12 (March 12) EPS guidance and re-committed to 34% op margins for FY12; however, revenue guidance shifted lower and new products were weak. We are incrementally cautious given ongoing macro uncertainty; however, CA remains well positioned to leverage positive trends in cloud computing, SaaS, virtualization and security."
Oppenheimer maintains Outperform on CA.
Shares of CA closed Wednesday at $22.02.
