Citi Has Buy Rating On CA Inc.

Citi Investment Research has a Buy rating and a $26 price target on shares of CA Inc. CA. In a note to clients, Citi Investment Research writes, "CA is trying hard to reposition the company for growth, but with no obvious tangible results yet. FY11 revenue growth was 5%, with significant benefit from acquisitions, while operating margins were down 30 bp. At the same time the company is investing heavily to drive this strategy. Either growth has to pick up or the pace of investment needs to slow and we remain on the sidelines, to become more constructive if one of those can occur." Shares of CA gained 16 cents yesterday to close at $22.63, a gain of 0.73%.