Jefferies reiterated a Hold rating on Parametric Technology Corporation PMTC and raised its price target from $21 to $22.
Jefferies wrote, “PMTC's F3Q12 was better than feared with the F4Q12 guide slightly below consensus. Commitment to LT OM targets (even if rev growth below the target 11-13% range) was reassuring. We increase our ests, based on higher margins and raise our PT to $22. Maintain Hold.”
Parametric Technology Corporation closed at $20.74 on Thursday.
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