UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Parametric Technology

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Parametric Technology PMTC, and slightly raised its price target from $24.00 to $25.00. Jefferies noted, “We view the model set-up for F1Q13 as decent, but our indirect field work suggests demand trends were mixed again. While we like the margin expansion story, we remain concerned about organic revenue growth in a tough economic environment. Maintain Hold and raise PT to $25.” Parametric Technology closed on Tuesday at $22.90.