Oppenheimer Maintains Outperform on Micros Systems

Oppenheimer is out with its report today on Micros Systems

, maintaining Outperform. In a note to clients, Oppenheimer writes, "Although we believe the selling environment remains challenging, based on AGYS's 4Q results and our recent channel checks, we believe MCRS's business trends are gradually improving and FY4Q11 should be a solid quarter for MCRS. Additionally, although NT upside could be muted, we feel FY12 is shaping up to be a strong year and believe there is likely an upward bias to estimates." Oppenheimer maintains a $58 PT on MCRS. Shares of MCRS closed Tuesday at $46.94, up 1.32% from Monday's close.