Jefferies Reiterates Buy on PROS Holdings (PRO) and Raises PT to $28

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Jefferies today reiterated a Buy rating on PROS Holdings (NYSE: PRO) and raised its price target to $28.00 (from $23.00).

Analyst Ross MacMillan said, "PRO beat guidance/ consensus for 4Q12 and raised CY13 revenue growth, while also indicating a 170-220bp OM decline as a result of higher investments. Given ST backlog and implied new bookings to hit guidance, we think the bias of growth risk remains to the upside and we don't fault investments to drive sustainable 20%+ growth."

For an analyst ratings summary and ratings history on PROS Holdings (NYSE: PRO) click here. For more ratings news on PROS Holdings click here.

Shares of PROS Holdings closed at $22.20 yesterday, with a 52 week range of $12.73-$22.94.

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