Dougherty Upgrades Integral Systems (ISYS) to Buy; Stock Up 15%

Dougherty & Co. upgrades Integral Systems (Nasdaq: ISYS) from Neutral to Buy.

Shares of Integral Systems are moving substantially higher today despite news late yesterday that Federman & Sherwood filed a class action lawsuit against Integral on December 16, 2008. The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price. The class period is from April 28, 2008 through December 10, 2008.

Integral stock is currently up about 15.4% to $11.69. Notably, shares of Integral have now risen more than 32% since reporting better-than-expected Q4 earnings before the market opened Friday.

Integral Systems, Inc. builds satellite ground systems and equipment for command and control, integration and test, data processing, and simulation.

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