Jefferies Raises Price Target CA (CA) to $26

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Jefferies raised its price target on CA (NASDAQ: CA) from $21 to $26, but kept its Hold rating.

The firm comments, "Operationally, CA’s F3Q results were relatively inline. But the focus is on the company’s capital redeployment plan which will see a material increase with a target return to shareholders of $2.5bn through FY14. The magnitude of the commitment adds conviction to the sustainable cash flow growth outlook but also other strategic and operational plans including a more restrained acquisition agenda and more efficient operating structure."

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

Shares of CA closed at $22.82 yesterday, with a 52 week range of $18.61-$25.68.

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