Wedbush Maintains $14 PT On CPWR

Compuware Corporation CPWR announced preliminary FQ4 results that fell short of consensus revenue and EPS estimates and prior guidance “due to two mainframe deals slipping into F2012,” Wedbush reports. “Although we are disappointed these two large deals that were expected to close did not, management is very confident these transactions will close soon,” Wedbush writes. “Because this shortfall comes from the 'nongrowth' side of Compuware's business, and includes one large deal affected by the near shutdown of the U.S. Government, we recommend that investors take advantage of any potential weakness in CPWR shares as we are very confident that the company's distributed businesses will continue to grow quickly and outperform expectations, as they did in FQ4.” Wedbush is maintaining its $14 PT on shares of Compuware Corporation, which closed Wednesday at $11.19.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst RatingsApplication Softwarecompuware corporationInformation TechnologyWedbush
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!