UPDATE: Stifel Nicolaus Initiates CDW at Buy on Market Leader Position

In a report published Tuesday, Stifel Nicolaus analyst Matthew Sheerin initiated coverage on CDW <strong.cdw strong="">(NASDAQ: CDW) with a Buy rating and $27.00 price target.</strong.cdw>

In the report, Stifel Nicolaus noted, “CDW is a leading reseller of IT products and services in North America, with 2012 revenue of $10.1 billion and industry-leading margins. The company first went public in 1993 and private in 2007 through a leveraged buyout led by private equity firms Madison Dearborn and Providence Equity. We see CDW as a relatively low-risk way to play IT spending in North America, given its diverse market exposure, broad base of product offerings and vendor relationships, and industry-leading margins and returns.”

CDW closed on Monday at $22.79.