UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Parametric Technology

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Parametric Technology (NASDAQ: PMTC), and slightly raised its price target from $24.00 to $25.00.

Jefferies noted, “We view the model set-up for F1Q13 as decent, but our indirect field work suggests demand trends were mixed again. While we like the margin expansion story, we remain concerned about organic revenue growth in a tough economic environment. Maintain Hold and raise PT to $25.”

Parametric Technology closed on Tuesday at $22.90.