UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Compuware Corporation

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Compuware Corporation (NASDAQ: CPWR), and slightly raised its price target from $11.00 to $12.00.

Jefferies noted, “Strength in CPWR's growth segments combined with better-than-expected mainframe license results provided 3Q revenue upside. With the growth areas providing greater influence on the model, CPWR has made choppy overall progress in its transformation. The next step likely rests more with strategic actions in the form of progress with the Covisint offering and / or response to activist shareholders; which should come in the nearer term.”

Compuware Corporation closed on Tuesday at $11.06.