CDW price target lowered to $150 from $190 at Raymond James

Raymond James lowered the firm’s price target on CDW (CDW) to $150 from $190 and keeps a Strong Buy rating on the shares. CDW reported solid Q1 growth but limited operating leverage with modest EBIT expansion, keeping valuation pressured, though new cost saving initiatives provide a path to improved margins and potential recovery toward double digit EPS growth if execution and spending trends strengthen, the analyst tells investors in a research note.