Market Overview

UPDATE: Jefferies Cuts PT to $25 on Progress Software Corporation on Continuing Transition

Share:
Related PRGS
What Will Happen To Digital After Two Years? Look At the Survey Of Progress Software
Mid-Day Market Update: Progress Software Drops On Weak Results; Medivation Shares Surge

Jefferies reiterates its Hold rating on Progress Software Corporation (NASDAQ: PRGS) and lowers its price target from $28 to $25.

Jefferies comments, "PRGS reported full 2Q results and spoke to the potential for continued transitional disruption, which was not completely unexpected. Initial progress with planned divestitures has been made and PRGS should commence planned share repurchases shortly; which will be a material source of FY13 EPS growth. But given the transitional uncertainties, it is hard to pinpoint a turning point and we remain neutral on the stock."

PRGS closed at $19.90 on Wednesday.

Latest Ratings for PRGS

DateFirmActionFromTo
Oct 2015WedbushMaintains`Neutral
Jun 2015Sidoti & Co.Initiates Coverage onNeutral
Mar 2014JefferiesMaintainsHold

View More Analyst Ratings for PRGS
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

Related Articles (PRGS)

View Comments and Join the Discussion!