UPDATE: Jefferies Starts CA (CA) at Buy

(Updated - November 21, 2014 8:33 AM EST)

Jefferies initiated coverage on CA (NASDAQ: CA) with a Buy rating and a price target of $40.00.

Analyst John DiFucci commented, "We rate CA shares a Buy with a $40 price target, as we believe CA provides both relative cash flow sustainability in current uncertain times, as well as the opportunity for growth as the company’s renewed strategy and focus on development begins to take hold. Furthermore, we believe the recurring nature of highly profitable maintenance revenues, particularly from mainframe software, is key as it enables the company to continue returning capital to shareholders while simultaneously investing in the business."

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 $30.02 yesterday.

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