Needham & Company Reiterates a 'Buy' on MICROS Systems (MCRS); FY13 Looks Conservative
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Price: $67.99 --0%
Rating Summary:
0 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on MICROS Systems (NASDAQ: MCRS) price target of $70.00.
Analyst, Mayank Tandon, said, "Micros’ results for 4Q were in line on revenue, but EPS beat consensus by $0.08 on the back of lower SG&A expenses. The guidance for FY13 is above expectations on revenue, reflecting the full impact of the Torex deal consummated on June 1, while EPS guidance is in line with estimates. While management is admittedly being cautious going into FY13 considering the uncertain global macro climate, we believe the key positive catalysts for driving sustained EPS upside performances over the next 12-18 months remain in place. Specifically, the 2-3% maintenance price effected this January; a pick up in the customer upgrade cycle as Simphony (Micro's flagship restaurant product) gains traction; new logo wins, particularly among the global hotel chains (Marriott (NYSE: MAR) and Hilton) and a large potential opportunity with Tim Horton’s (NYSE: THI); market share gains; and SG&A leverage."
For an analyst ratings summary and ratings history on MICROS Systems click here. For more ratings news on MICROS Systems click here.
Shares of MICROS Systems closed at $48.21 yesterday.
Analyst, Mayank Tandon, said, "Micros’ results for 4Q were in line on revenue, but EPS beat consensus by $0.08 on the back of lower SG&A expenses. The guidance for FY13 is above expectations on revenue, reflecting the full impact of the Torex deal consummated on June 1, while EPS guidance is in line with estimates. While management is admittedly being cautious going into FY13 considering the uncertain global macro climate, we believe the key positive catalysts for driving sustained EPS upside performances over the next 12-18 months remain in place. Specifically, the 2-3% maintenance price effected this January; a pick up in the customer upgrade cycle as Simphony (Micro's flagship restaurant product) gains traction; new logo wins, particularly among the global hotel chains (Marriott (NYSE: MAR) and Hilton) and a large potential opportunity with Tim Horton’s (NYSE: THI); market share gains; and SG&A leverage."
For an analyst ratings summary and ratings history on MICROS Systems click here. For more ratings news on MICROS Systems click here.
Shares of MICROS Systems closed at $48.21 yesterday.
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