CDW Corporation (CDW) PT, Estimates Raised at Needham & Company
- ADP Employment Change (Apr) 156K vs 195K Expected
- Wall St. opens lower as private jobs data weighs
- The Priceline Group (PCLN) Tops Q1 EPS by 88c; Q2 Guidance Below the Street
- EIA Data Shows 2.78M Barrel Increase in Crude Inventory
- Exclusive: Pfizer approaches Medivation about potential takeover - sources
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
- Needham & Company Reiterates Buy on Oclaro (OCLR) Following 3Q - PT to $7
- Wedbush Raises Price Target on Xylem (XYL) to $43 Following 1Q Beat
- Piper Jaffray Raises Price Target on Oclaro (OCLR) to $6.75 Following 3Q Beat
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!