J.P. Morgan Reiterates Overweight Rating on Aspen Technology (AZPN)

J.P. Morgan is out with a research report this morning, where it reiterates its Overweight rating on Aspen Technology

. The JPM analysts cited a meeting with company management, where they came away believing that the new subscription revenue model is allowing customers to grow their annual spending as customers expand usage of their products. The analysts believe continued growth in usage at high-single-digit/low-double-digit rates could ultimately drive upside to FY13 guidance of $1/share in FCF.