CA Technologies(CA): Good Results But Key Person Retiring - Jefferies

Jefferies analyst, John DiFucci reiterated his Buy rating on shares of CA (NASDAQ: CA) after the company exceeded most F1Q estimates, posting 3% cc revenue growth, and maintaining guidance for the year. In addition, a large SI deal was closed earlier than its natural renewal next year, which more than doubled total bookings from a year ago.

The stock may see some temporary pressure due to the retirement of CFO Rich Beckert, but the analyst believes that new business exceeded attrition in the quarter, providing a good start to growth this year and beyond.

The price target increases to $38.00 (from $36.00)

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 $34.55 yesterday.

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