UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Lowers PT on Datalink Corporation

In a report published Friday, Cantor Fitzgerald reiterated its Buy rating on Datalink Corporation (NASDAQ: DTLK), but lowered its price target from $11.50 to $10.00.

Cantor Fitzgerald noted, “We maintain our BUY rating but lower our price target to $10 from $11.50, as increased FY:13 estimates (acquisition) are offset by a more conservative multiple given nearer-term purchase delays. Mid- to long-term, we continue to view DTLK as a solid secular growth story, driven by increased reliance on services in a rapidly evolving IT market, highly fragmented competition, and crisp M&A execution. We liked the stock yesterday at 8x EPS and 0.24 EV/S and all the more so at 6x and 0.18x (assumes new estimates and -14% after hours).”

Datalink Corporation closed on Thursday at $8.58.

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