Citigroup Reports on CA (CA)

In a report released today, Citigroup commented on CA CA. In the report, Citigroup was mixed in its assessment of the company. Citigroup writes, “Revenue, bookings and billings were all light if looked at in the right context. 4Q11 revenue of $1.13B was below our $1.15B while billings ($1.42B) was light (we were at $1.53B). The bookings headline number of $1.89B was ahead of our $1.58B estimate, but included a $500M renewal contract that we didn't anticipate and isn't additive. Mainframe capacity did come back and contributed to the results, but the distributed performance looks mixed to us, with much of the distributed growth coming from acquisitions.” Citigroup has a Hold rating on CA and a price target of $26.00. Shares of the company closed the trading day at $25.06, up $0.67 from the open.