UPDATE: Jefferies Color on Parametric Technology PT Decrease

Jefferies, which lowered its PT on shares of Parametric Technology PMTC, is providing some color on the stock. “We have trimmed our forecasts and PT on PMTC following a downtick in our channel survey work,” Jefferies writes. “However, we think a soft patch in the economy should be outweighed by the company's improving product position, a greater focus on operating margin expansion and relative valuation.” Parametric Technology closed Wednesday at $23.54.