Jefferies Maintains a 'Buy' on Parametric Technology (PMTC) After Survey Reveals In-line Seasonal Sales
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Price: $32.38 -0.61%
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Jefferies maintains a 'Buy' on Parametric Technology (NASDAQ: PMTC) price target raised from $31 to $33.
Analyst, Ross MacMillan, said, "Our most recent reseller work suggests F2Q12 was in line with the seasonal trend. Reseller expectations for CY12 downticked vs. our prior survey, though we think the direct biz is likely to perform well in 2H12 given aggressive headcount expansion. PMTC has strong earnings power as operating margins expand and valuation remains attractive relative to the group."
MacMillan thinks their NTM 15x multiple is warranted on strong operating margin expansion, but sees sales execution risk (namely closing of large/l-t deals)
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 $28.41 yesterday.
Analyst, Ross MacMillan, said, "Our most recent reseller work suggests F2Q12 was in line with the seasonal trend. Reseller expectations for CY12 downticked vs. our prior survey, though we think the direct biz is likely to perform well in 2H12 given aggressive headcount expansion. PMTC has strong earnings power as operating margins expand and valuation remains attractive relative to the group."
MacMillan thinks their NTM 15x multiple is warranted on strong operating margin expansion, but sees sales execution risk (namely closing of large/l-t deals)
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 $28.41 yesterday.
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