Jefferies Reiterates Buy on Parametric Technology

Jefferies is out with its report today on Parametric Technology PMTC, reiterating Buy. In a note to clients, Jefferies writes, "PMTC's annual user group event was upbeat, with the company highlighting the expanding product portfolio, recent acquisition of embedded software functionality and commitment to the 2014 goal of $1.6B revenue and $2.00 NG EPS. We raise our revenue, but slightly lower our FY12 EPS estimate. We continue to like the growth and improving business model at PMTC. Reiterate our Buy rating and $28 price target." Shares of PMTC closed Tuesday at $21.82.