J.P. Morgan Comments On Parametric Technology Investor Update

According to J.P. Morgan, Parametric Technology PMTC provided a preliminary revenue outlook for FY12 that was better than expected. J.P. Morgan said that the company is gradually investing in sales over the next year, which eats some of the accretion from MKS in FY12. “Remain committed to 20% EPS growth through FY14. This is a key reason we are Overweight on PMTC shares as consistent 20% EPS growth should drive multiple expansion. Our December 2011 price target is unchanged at $24.50.” Parametric Technology closed yesterday at $21.82.