UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Compuware Corporation
In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Compuware Corporation (NASDAQ: CPWR), and slightly raised its price target from $10.00 to $11.00.
Jefferies noted, “Recent activities surrounding CPWR have provided updated inputs and have drawn greater attention to potential value creation opportunities. We believe the fundamentals could remain inconsistent but the stock has been somewhat resilient given the building presence of higher growth revenue, a nearing event timeline to isolate Covisint and potential outside shareholder influence. We have refreshed our SOTP and adjust our target to $11.”
Compuware Corporation closed on Tuesday at $9.58.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.