UPDATE: Stifel Nicolaus Cuts Target to $34 on Computer Science Corporation

Stifel Nicolaus maintains its Buy rating on Computer Science Corporation (NYSE: CSC) and lowers its price target to $34 from $38 a share as it adjusts EPS estimates before the company reports its F3Q results.

Stifel Nicolaus says, "We have reviewed the assumptions underlying our earnings forecasts with emphasis on these issues. As a result we are lowering our FY12 (Mar) and FY13 EPS estimates from $3.90, to $3.50 and $3.40, below consensus of $3.73 and $3.85. While the market is likely discounting downward revisions, we have a modestly negative bias going into next week's report without resolution of the aforementioned issues."

CSC closed at $25.93 a share on Monday.