Oppenheimer Reiterates Outperform on CA

Oppenheimer is out with its report today on CA CA, reiterating Outperform. In a note to clients, Oppenheimer writes, "CA posted solid 1Q12 (June 11) results, delivering EPS ahead of consensus and revenue in line. Although top-line growth fell below management's 6-8% guidance for FY12, CA reaffirmed its expectations for full-year revenue growth and guided EPS above consensus. The company posted improvements in operating margins and new product sales, and management is moving to improve traction in the under-performing EMEA region. During the quarter, CA repurchased 6.4M shares for $150M, leaving ~$630M of capacity under its authorization. Longer term, we believe CA will continue to benefit from trends in cloud computing, virtualization and SaaS, and we reiterate our Outperform rating and $29 target." Shares of CA closed Wednesday at $22.35, up 0.36% from Tuesday's close.