UPDATE: Jefferies Raises PT on Monotype Imaging Following 2Q13 Revenue/EPS Report

In a report published Monday, Jefferies analyst Ross MacMillan reiterated a Hold rating on Monotype Imaging TYPE, and raised the price target from $22.00 to $25.00.

In the report, Jefferies noted, “TYPE reported 2Q13 rev/ NG EPS of $41.1M/ $0.26, slightly below the Street. OEM rev beat while CP rev lagged due to lumpy direct business. 3Q guide was lower than the Street (ISV payments) and CY13 rev/ EPS outlook was slightly reduced due to FX/ higher tax, while Adj. EBITDA was maintained. Commentary on new opportunities remain positive within a broadening portfolio, but we maintain Hold on valuation. PT to $25.”

Monotype Imaging closed on Friday at $24.77.