CDW Corporation (CDW) PT, Estimates Raised at Needham & Company
- Market Wrap: CPI Outpaces in Sept.; Regulus Ramps on RG-101 Data; AT&T Trims Outlook
- AT&T Inc (T) Misses Q3 EPS by 1c
- After-Hours Stock Movers 10/22: (SCSS) (TSCO) (INFN) Higher; (AIRM) (ADHD) (YELP) Lower (more...)
- Yelp (YELP) Tops Q3 EPS by 2c; Issues Light Q4 Revs Outlook
- Family of Ebola infected nurse Amber Vinson says doctors are 'no longer able to detect virus in her body' - CBS
Needham & Company analyst Richard Kugele reiterated a Buy rating and raised his price target on CDW Corporation (NASDAQ: CDW) to $32.00 (from $30.00) following strong Q1 results.
Kugele comments, "We reiterate our Buy rating on CDW and increase our price target to $32 from $30 as we apply a blended 13x C15 P/E & 9x C15 EV/EBITDA. The company’s strategy of disciplined growth, coupled with vertical and vendor diversification continues to pay dividends. This was particularly evident in storage, where the company compensated for weakness in traditional storage systems with robust growth in next-generation flash/hybrid solutions and converged systems. Looking forward, we expect strong EPS growth as they continue to drive topline performance through share gains and further de-levering of the balance sheet."
The firm raised FY 2014 EPS from $1.83 to $2.19 and FY 2015 EPS from $2.34 to $2.42.
Shares of CDW Corporation closed at $28.68 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Global Hunter Securities Downgrades Gulfmark Offshore (GLF) to Neutral
- Super Micro Computer (SMCI) PT Lifted to $31 at Needham & Company on 'Beat and Raise'
- Cowen Trims PT on Cree (CREE) to $36 Following Q1 Results; LED Will Continue to Be Challenging Business
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesNeedham & Company, Dividend
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!