NEW YORK (TheStreet) -- CDW Corp (CDW) stock has had its price target and estimates increased, Barclays said Thursday. The firm said the revision was driven by demand in healthcare and SMB with higher levels of solution sales. A $36 price target has been set and "overweight" rating reiterated.
"We believe the pace of CDW's business remains solid, helped by a corporate PC upgrade cycle and strong education sales," analyst Ben A. Reitzes wrote in a report.
"We are raising our 2015 and 2016 annual estimates to account for our view that demand could improve in healthcare and SMB accompanied by higher levels of solution sales (higher margin)."
For fiscal 2014, Barclays forecasts adjusted earnings of $2.17 a share and sales growth of 7% to $11.51 billion.
Barlcays upped its estimates for adjusted earnings in fiscal 2015 to $2.48 a share from $2.46 a share with sales growth of 6% to $12.24 billion from $12.18 billion.
Fiscal 2016 estimates have also been increased to $2.78 a share from $2.72 a share with sales of $12.94 billion, previously $12.81 billion.
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