CA Technologies downgraded to Underperform from Market Perform at Cowen Cowen downgraded CA Technologies following discussions with customers and partners that indicate perceptions are deeply entrenched, making new business and bookings growth difficult, and notes the renewal portfolio tailwind is over. Price target is $30.
CA Technologies sees FY16 EPS $2.37-$2.44, consensus $2.42 Sees FY16 revenue $4.04B-$4.11B, consensus $3.98B. Total revenue to change in a range of minus 1%-flat in constant currency. Previous guidance was to decrease 2% in constant currency. Non-GAAP diluted earnings per share from continuing operations to increase in a range of 2%-5%in constant currency, unchanged from previous guidance.