Markets & Finance

Robinson Humphrey Upgrades Radiant Systems

Robinson Humphrey upgrades Radiant Systems (RADS) to buy from market perform.

Analyst Christopher Rowen says the company announced the release of RADS 6.0 and said it would meet or beat fourth quarter estimates. He notes that positive EPS news should remove some near term risk from the stock. The product release should unlock subscription and license revenue that was contracted, but unable to flow until the product was ready, he says. He thinks the availability of back office product will bring new wins with high profile customers. He believes top management was focused on the product release, and should bring more active management of pipeline and its financial performance.

Rowen raises his 12-month price target to $16 from $12.

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