From Standard & Poor's Equity ResearchBrean 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.