UPDATE: Compass Point Initiates Coverage of MICROS Systems with Neutral Rating, $50 PT

In a report published Friday, Compass Point Research & Trading initiated coverage of MICROS Systems

with a Neutral rating and a $50.00 price target. Compass Point noted, “The company has a history of successful products and currently holds little share of a large addressable market. Revenues are expected to double over the FY2011-2016 period from $1B to $2B. However, the favorable prospects appear already priced. Our opinion would be more favorable given the opportunity to own growth at a more reasonable price.” MICROS Systems closed yesterday at $49.50.