Needham & Company Starts CDW Corporation (CDW) at Buy

August 6, 2013 7:51 AM EDT Send to a Friend
Get Alerts CDW Hot Sheet
Price: $34.26 -1.44%

Rating Summary:
    8 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 27 | Down: 26 | New: 30
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Needham & Company initiates coverage on June IPO CDW Corporation (NASDAQ: CDW) with a Buy rating and $27 price target.

Analyst Richard Kugele comments, "We believe CDW, with its vast scale and product breadth, flexible and scalable business model, and above-market growth rates, represents a 'must own' for tech investors, warranting a premium to comparable companies. Therefore, we are initiating coverage with a Buy rating and a 12-month price target of $27 based on a blended 14x C14E EPS of $2.00 and 9x EV/C14E Adjusted EBITDA of $816M."

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

Shares of CDW Corporation closed at $22.79 yesterday.

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