UPDATE: Deutsche Bank Reiterates On CDW Following Solid Results

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on CDW (NASDAQ: CDW), and raised the price target from $32.00 to $34.00.

In the report, Deutsche Bank noted, “PCs and Public drive upside. CDW reported solid results driven by PCs, robust Public demand and good OpEx control. Sales grew 12% Y/Y led by healthy growth in Education, Healthcare and Small Business, while the U.S. Federal vertical returned to growth. We continue to expect CDW to benefit from improving growth in U.S. IT spending and believe the company's portfolio is well positioned in new growth areas. We have adjusted our estimate and raised our PT to $34 from $32, driven by a higher P/E justification; maintain Buy.”

CDW closed on Thursday at $30.89.