UPDATE: Jefferies Reiterates Hold Rating, Raises PT on ANSYS on Strong 4Q12

In a report published Friday, Jefferies reiterated its Hold rating on ANSYS ANSS, and raised its price target from $65.00 to $75.00. Jefferies noted, “ANSS reported a strong 4Q12, with rev outperformance and lower OPEX driving an EPS beat of $0.05. 1Q13 guide was below Street but looks conservative, with high end of rev guide implying normal seasonality and OM expected to decline 350 bps Y/Y or 230 bps sequentially. Our CY13 ests are broadly unchanged and we introduce CY14 NG rev at $984M (+10% Y/Y)/ $3.40. Maintain Hold on valuation.” ANSYS closed on Thursday at $75.80.