Wedbush Starts Parametric Technology (PMTC) at Outperform; Bullish Into Seasonally Strong 2H

September 13, 2012 4:48 PM EDT Send to a Friend
Get Alerts PMTC Hot Sheet
Price: $32.38 -0.61%

Rating Summary:
    9 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 48 | New: 12
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Wedbush initiates coverage on Parametric Technology (NASDAQ: PMTC) with an Outperform. PT $28.00.

Analyst, Steve Koenig, said, "Several factors make us positive on PMTC shares going forward: (1) 4Q guidance looks relatively cautious; (2) the company’s pipeline and impending sales tenure increases should support license acceleration and FY13 upside; and (3) a relatively low 14x forward P/E – near the low end of PMTC’s last-three year trading range – appears to discount significant macroeconomic weakness already. For FY13, the planned addition of Servigistics plus recent strengthening of the euro should produce meaningful upside to consensus estimates. We see a good potential for additional upside from management’s intention to increase operating margin by about 200 bps annually."

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 $23.29 yesterday.

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