Jefferies Lifts Price Target On Parametric Technology (PMTC) to $23

Jefferies raised its price target on Buy-rated Parametric Technology (NASDAQ: PMTC) from $22 to $23.

The firm comments, "Our latest channel survey suggests normal seasonality for F1Q12 and a slight up-tick in growth expectations for CY12. We lowered our ests for FX/ demand on 1/9/12 and see no need to change estimates further. We still view the stock as relatively cheap and we maintain Buy."

For an analyst ratings summary and ratings history on Parametric Technology click here. For more ratings news on Parametric Technology click here.

Shares of Parametric Technology closed at $20.25 yesterday, with a 52 week range of $14.25-$25.30.

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