Citi Expects CA to Have Mixed December Quarter

In a research report published by Citi today, CA Inc.

is set to report its December quarter on Tuesday, January 24th. Citi stated, “– We continue to expect some weakness in new product bookings and geographic issues in Europe. As a result, we remain cautious on the prospect for top-line improvement as product bookings are likely to continue declining trend. Revenue and billings backlog metrics haven't yet inflected positively and we don't expect this will happen in Dec. CA has significant exposure to financial services, which has been the source of prolonged deal closures. Currency is not likely to be a significant factor as CA hedges much of its exposure during the current year. We expect this will have an impact as we enter FY13.” Citi reiterates its Neutral rating and $21.00 PT on CA Inc., which closed Friday at $22.65.