Brean Murray Ups MICROS Systems to Strong Buy

From Standard & Poor's Equity Research

Brean Murray upgraded MICROS Systems (MCRS) to strong buy, after the information systems supplier late Tuesday announced fourth quarter results.

Analyst Andrew Glukhov says the company delivered strong fourth quarter results, with revenue of $192 million, better than his $184 million estimate. Glukhov says solid revenue drove better-than-expected profitability.

Company management raised its fiscal year 2007 (ending Jun) revenue estimate to between $778 million and $781 million, while maintaining its 15% year over year growth target. Glukhov raises a $2.05 fiscal year 2007 earnings per share (EPS) estimate to $2.14, and sees $2.52 in fiscal year 2008. The analyst also ups a $48 stock price target to $51.

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