October 1, 2008 / 3:25 PM / 10 years ago

UPDATE 1-RESEARCH ALERT-Cowen upgrades CA to outperform

(Recasts; adds details)

Oct 1 (Reuters) - Cowen and Co upgraded CA Inc CA.O to “outperform” from “neutral,” and said the business software maker’s cash flow is improving in quality and becoming more stable.

“With more comfort around the stability of cash flows going forward, we believe shares at current levels have little downside,” analyst Walter Pritchard wrote in a note to clients.

There is potential upside from additional cost-cutting efforts and improvements in sales productivity as representatives sell new products, Pritchard said.

Shares of CA were trading up 22 cents at $20.17 Wednesday morning on Nasdaq. (Reporting by Mary Meyase in Bangalore; Editing by Pratish Narayanan )

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